India made a forceful and concerted pitch for investments at this year’s annual World Economic Forum (WEF) in Davos as one of its largest ever contingents landed in the picturesque Swiss town to showcase the nation’s economic resilience and growth prospects.

Five Union ministers, three state chief ministers, government officials, business leaders, and representatives from civil society engaged global investors and media in the bustling conference rooms of Davos, presenting a cohesive narrative and shared commitment to economic progress.

The WEF this year, which was held between 20-24 January, saw participation from eight states–Kerala, Telangana, Uttar Pradesh, Andhra Pradesh, Maharashtra, Tamil Nadu, Karnataka, and West Bengal.

Here’s what top leaders said at the WEF:

Ashwini Vaishnaw, Union railways minister

In his address, Union railways minister Ashwini Vaishnaw emphasized India’s growing allure to international companies. He underscored the nation’s competitive edge, saying India is distinguished by its “frame of trust, talent, and design capabilities.”

“India is already among the top three destinations for semiconductors,” he said.

Downplaying concerns about an economic deceleration in the second quarter of the fiscal year, he attributed the slump to transitory factors such as the Reserve Bank of India’s stringent liquidity measures to curb inflation, extended monsoons, and election-related pauses in construction.

“I believe this is just a minor hiccup. We are solidly within the 6-8% growth trajectory,” he added.

Devendra Fadnavis, Maharashtra chief minister

Maharashtra chief minister Devendra Fadnavis said 61 memorandums of understanding (MoUs) for investments totaling Rs15.70 trillion were signed during his visit to the WEF. These agreements are expected to create 1.6 million jobs in the state, he pointed out.

According to Fadnavis, 98% of these MoUs involve foreign direct investment and cover sectors including infrastructure, green energy, electronics, IT, steel, defense, textiles, solar energy, biotechnology, and pharmaceuticals.

Chandrababu Naidu, Andhra Pradesh chief minister

Andhra Pradesh chief minister Chandrababu Naidu engaged with top executives from 15 leading international firms to promote the state as a premier investment destination.

“Several firms expressed eagerness to invest in Andhra Pradesh. The state’s proactive efforts to enhance its brand and attract investments have been fruitful,” Naidu said in a press release.

Among companies considering investing in the southern state include Maersk, the world’s largest container shipping company, whose CEO Vincent Clerck met Naidu. Likewise, Cisco chairman and CEO Chuck Robbins met with Naidu to explore a global capability center in Visakhapatnam or Tirupati, alongside opportunities in network equipment manufacturing and skill development.

South Korea’s LG Chem, led by CEO Shin Hak-cheol, also showed interest in setting up a petrochemical unit in the state. Carlsberg Group CEO Jacob Aarup-Andersen discussed plans to establish an integrated brewery and bottling unit. Meanwhile, ArcelorMittal said it is advancing its Rs1.4 lakh crore integrated steel project in Anakapalle.

Neeraj Kanwar of Apollo Tyres

Neeraj Kanwar, vice chairman and managing director of Apollo Tyres, said that under US President Donald Trump’s leadership, this is the perfect time for India to deepen its partnership with America.

“It is very essential as India is shining and is one of the only growing economy with 6-6.5% GDP. On the other hand, US is also going in the right direction. So, it is very important for India to have better ties with the US. Not only just trade, in the high-tech segment, most tech innovations are Indians. We need to see that those jobs are also well secured. So, it is not just trade, even for tech India and US need to work together,” Kanwar said.

Rishad Premji of Wipro

In an interview to Bloomberg, information technology services firm Wipro’s executive chairman, Rishad Premji, listed three things going for India: “India is a talent destination for the world; it is spending a lot of energy to become the manufacturing destination of the world; and the third is its huge consumption economy.”

At the summit, the IT firm also unveiled plans to expand its existing campus in Hyderabad, giving the city’s IT sector a major boost.

Wipro is expected to establish a new IT center in Gopanapally, located in Hyderabad’s Financial District.

This new center is expected to generate both direct and indirect employment for around 5,000 people, the company said.

Roshni Nadar Malhotra of HCL Technologies

HCL Technologies is fast-tracking its commitment to artificial intelligence (AI) with an investment strategy aimed at enhancing its capabilities across multiple domains, chairperson Roshni Nadar Malhotra told CNBC-TV18.

Outlining her company’s AI-focused approach, Malhotra marked out four key areas: AI Force, AI Labs, AI Foundry, and AI Engineering.

Malhotra said the company is also investing in training program to equip staff with the expertise in AI, while also seeking to address the challenges of integrating AI into academic curriculums.

C.S. Setty of State Bank of India

State Bank of India (SBI) chairman C.S. Setty said the slump in the gross domestic product (GDP) growth seen in the past two quarters were a blip, with the long-term story of the Indian economy being intact.

The Reserve Bank of India (RBI) might kick off a cycle of rate cuts in its monetary policy review next month amid the current slowdown in economic growth, Setty told Business Today in Davos.

SBI is expecting a total reduction of 50 to 75 basis points in repo rate through 2025, Setty said. One basis point is one-hundredth of a percentage point.

“Our forecast is that the rate cut in February will be modest, primarily serving as a signal that RBI is open to this approach. Over the course of 2025, we expect a 50 to 75 basis point cut, with a 25 basis point reduction in February,” Setty said.