"The mood is extraordinarily upbeat about India. Finance Minister Arun Jaitley has been effectively explaining the India story," Gurnani.

He is the Managing Director and CEO of the software major.

Noting that excitement among WEF participants about India is palpable, Gurnani said that most people he has met were upbeat about India.

"About 60-70 CEOs that I have met here are upbeat about the efforts made by the government to improve the ease of doing business and avoiding tax terrorism," he said.

He also said that Andhra Pradesh Chief Minister N Chandrababu Naidu was doing very effective hard-selling about his state.

Reflecting an optimistic mood, Essar Group Director Prashant Ruia said capital expenditure would pick up over the coming two-three quarters.

The business optimism also comes against the backdrop of Prime Minister Narendra Modi-led government making efforts to make the country a manufacturing hub and also attract more investments.

With as many as 120 registered participants, the Indian presence is the fifth largest at the WEF annual meet.

Overall, there are 1,500 business leaders from across the world, including over 100 from India. There are 40 heads of states and 100 other members of governments of participating countries including two union ministers and two chief ministers from India.

Industrialists Anil Agarwal of Vedanta Group and Cyrus Mistry of Tata Group are also attending the summit.

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