The 5-day annual World Economic Forum meeting concluded Sunday with global CEOs listing job creation, income inequality and high energy prices as the most pressing areas of concern in 2012 for the world economy, including emerging markets like India.
"If we talk about energy sector, the economic uncertainties always mean that there would be investment risks. If investments slow down, it can push prices higher that will create more problems," Royal Dutch Shell CEO Peter Voser said.
While India has a cushion from domestic demand, it is not immune either from the global impact. Besides, unlike in 2008-09, the Indian government has virtually no elbow room to boost the confidence.
In a session on India, Barry Eichengreen, Professor of Economics and Political Science at the University of California, Berkeley, said, "people are more worried about India than other emerging economies because India has less scope for doing anything. China can roll out infrastructure spending because it does not have the same deficit".
Against slowdown, the Indian government faces an uphill task to manage its finances and fiscal deficit is expected to overshoot the budgeted figure of 4.6 per cent of the GDP in the current fiscal ending March.
However, global ratings agency S&P President Douglas L Peterson said that India's investment grade rating is more likely to improve than deteriorate even though the country has development challenges.
Amidst the gloom on unemployment, Facebook COO Sheryl Sandberg put out a positive 'status', stating, "the Internet sector has indeed been a major job creator in recent years. In 2011 itself, Facebook with other network platforms created more than 2,30,000 jobs..."
On the heatedly-debated question of censorship and privacy, the CEOs called for a balanced approach rather than throwing the baby with the bath tub.
"It will be foolish for any government to block these platforms... (however) respect for privacy is something that all of us need to have and it is true that Internet exposes people to these risks," Unilever CEO Polman.
Even as Commerce and Industry Minister Anand Sharma and three Ministers of State -- Ashwani Kumar, Sachin Pilot and Jyotiraditya Scindia -- represented the government, the Indian presence paled this year against big delegations in the past.
On Saturday, IMF chief Christine Lagarde cautioned that no one is immune to the European debt crisis that can have spillover effect on the global economy and called for "simple firewall" to contain the turmoil.
"No one is immune in the current situation... It is a crisis that could have co-lateral effect, spilover effect around the world. Everybody has an interest to solve this situation," she had said.