Central bankers at Davos brush off stimulus dangers

Fears of economic instability due to the slowing of massive monetary stimulus policies are unwarranted, top central bankers said at the World Economic Forum annual meet here, amid accusations that the easy money has won only a timid recovery.

The Indian story is looking better this year but it is nowhere close to the exuberance seen at the World Economic Forum meet a few years ago, prominent banker Uday Kotak said on Saturday.

Secretary of State John Kerry dismissed on Friday as "a myth" suggestions that the United States was withdrawing from world affairs.

India wants the World Trade Organisation (WTO) to capitalise on the success of the ministerial meeting in Bali and move ahead with the Doha development agenda for a global trade deal.

Attributing the decline in India's growth rate mainly to domestic factors, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said the government needs to anticipate obstacles and take quick decisions.

A shift towards circular model of growth will have huge potential for innovation, job creation and economic expansion, and is expected to generate $1 trillion a year for the global economy, according to a report.

The mammoth data breach at US No. 3 retailer Target has made executives even more aware of the need to improve safety standards, but the cost is often prohibitive.

Tata Motors during the throes of the global economic crisis in 2008 had acquired JLR and since then the fortunes of the iconic British automaker has turned around. Tata Motors had bought JLR from Ford Motor for $2.5 billion and poured in significant capital to revive the ailing luxury carmaker.

Speaking here on the sidelines of the World Economic Forum (WEF) annual meet, Mr Sharma said the AAP's success in Delhi does not mean it would be replicated elsewhere in India. Asked whether AAP was adding to uncertainties, Mr Sharma said there may not be a need to worry as this was like a "localised storm" and Delhi is a city state.

Mr Ghosn, who is Renault-Nissan Alliance's Chairman and CEO, said that 2013 was disappointing for the industry in India but 2014 should see slow recovery.

Eyeing India as a long-term growth market, US-based retail giant Walmart says it is currently focussing on expanding its wholesale retail business in the country and would wait for further clarity on rules for entering the multi-brand retail business.

The IMF chief said fighting corruption is important in all the countries where it exists.

The global financial crisis, had hit the BRICS economies - Brazil, Russia, India, China and South Africa, but these countries are likely to rebound, with India likely to clock "steady" GDP growth in next three years.

The global financial crisis, had hit the BRICS economies - Brazil, Russia, India, China and South Africa, but these countries are likely to rebound, with India likely to clock "steady" GDP growth in next three years.

Ministers from the BRICS economies defended their growth prospects on Friday despite waves of turbulence caused by the tightening of monetary stimulus in the US and concerns about a potential cash crunch in China.

Christine Lagarde, managing director of International Monetary Fund (IMF), in conversation with NDTV's Dr Prannoy Roy at the World Economic Forum in Davos.

Microsoft chairman Bill Gates, who is also the co-chair of Bill & Melinda Gates Foundation, is speaking to NDTV's Vikram Chandra on the sidelines the World Economic Forum meeting in Davos.

Mr Chidambaram, on Wednesday, called BJP's economic policies retrograde and "blood-eyed". He also took a personal dig at Mr Modi and asked why the Gujarat Chief Minister had never fielded a Muslim candidate.

Indian leaders on Thursday reiterated that the country's growth story remains intact even as the rich and powerful at the World Economic Forum 2014 meet appeared to be curious about the outcome of upcoming polls especially with advent of Aam Aadmi Party.

Asserting that reform measures and fast-tracking of the decision making process have yielded results, Finance Minister P Chidambaram on Thursday said India would certainly return to 8 per cent growth rate if past mistakes are not repeated.