"But other countries are also competing hard to attract capital and we fear that the government is sending a negative signal to investors. International capital can be fickle and once turned away, it would be extremely hard to attract these investors back to India," Rustagi added.
Coal shipments, comprising thermal/steam and coking coal, were up 17 per cent and 15 per cent respectively in the April-December period of the ongoing fiscal.
The World Economic Forum has traditionally brought together the world's top political and business leaders. But this year, the political leaders were largely absent — remaining in their home countries to handle crises largely of their own making (President Trump with the shutdown and Prime Minister Theresa May with Brexit).
The surprise guest this year was Tim Cook, Apple's chief executive, making his first appearance; it may be an indication of Apple's increasing dependence on foreign markets for growth.
A Chinese chief executive described his country's economy as "ugly" — he used that world repeatedly — suggesting that the underlying foundation there was more fragile than most economists acknowledge. That could lead to weakness in China spreading to the rest of the world. And the general sense is that while the U.S. and China may reach a trade détente, we might be headed for a decades-long economic cold war.