The World Economic Forum kicked off in Davos yesterday. Heads from Indian Inc as well as foreign entrepreneurs participated in the event.

India's Commerce Minister, Kamal Nath, who last year walked off the World Trade Organisation negotiating tables, saying that he had no more chips to play the game with and that he was going to call his travel agent to return home, is here this year at the World Economic Forum once again.

On the sidelines of this meet, Kamal Nath was quizzed on how hopeful he was of a breakthrough in this round of talks. He said, "This is the development round and the leadership of this round lies with the developed countries. The developed countries need to read the writing on the wall and it is not a question of imagining that there will be a failure if nothing happens here.

"More important than anything happening here is that we are going to set a process, which has been stalled. First we have to start a process to get on with it because at the moment, this is the first real engagement we are having after last July," Nath added