Leading world bankers at the World Economic Forum in Davos, Switzerland, are on the defensive amid demands to regulate their industry more closely following a financial crisis that has battered large chunks of the global economy.

Global markets have calmed significantly in the past year, but the world economy is not out of the woods yet, a panel of top officials and bankers said Wednesday as the World Economic Forum opened.

The high confidence levels of Indian CEOs is in sharp contrast to the declining confidence level of CEOs across the world in their own businesses as well as for the broader economic scenario.