The annual World Economic Forum in Switzerland attracts business and political leaders from all over the world, including 30 heads of state. While China sent its largest ever group, 66 people to the event (China’s commerce minister and its top banking regulator, along with the chairman of Industrial & Commercial Bank of China Ltd., and the head ofCosco, China Ocean Shipping Group), India had almost twice as many in attendance among the 2,500 gathered at this ski resort in the Alps. At the meet Russian billionaire Vladimir Yevtushenko said he was placing his investment bets in India over China, citing his success in the mobile phone business with Sistema Shyam Teleservices Ltd. Yevtushenko’s Sistema is also considering an investment with India’s state owned oil company, ONGC Videsh Ltd.
Last updated: July 10th, 2024
