As I think about the bright sunny mornings in Davos, it reminds me of calm and stability in an increasingly fractured, fast-moving and volatile world. For me, it is that familiar time and feeling, surrounded by snow-peaked mountains and breathing the fresh, crisp and chilly air. Though this time it was a snowless Davos with warm weather and bright sunshine, my warmest, both in terms of the weather and the friends I met. The Congress Centre was buzzing with both dominating and dominant leaders from across the world. It was also one of the crowdest Promenade I have seen in my many years here! The one traditional snack from the food trucks in the courtyard with our fabulous team is always fun and yummy when the temperatures drop at night.
But Davos of course goes beyond powdery slopes, clean air, and winter charm. It offers a rare chance to meet incredible leaders, forge partnerships, reset and rebuild. This year, Davos was also larger than ever, with over 400 world leaders, 800+ global CEOs, technology pioneers, unicorn founders and U.S. leaders dominating the dialogue.
As I reflect on the week, one thing that stands out is that it was packed. As we started the week, anticipation on President Trump’s presence and what he would say was in the air, as all eagerly awaited his address. Despite the glitches in Air Force 1, he made it and made sure his presence was felt loud and large. As the week progressed, discussions ranged from geopolitics to AI. Across rooms and conversations, three themes stood out clearly.
First, AI took the front seat. AI dominated every room, corridor and conversation. It has moved decisively from the sidelines to the centre, with governments, businesses and policymakers fully engaged. Today, more than 70 countries have adopted national AI strategies, and nearly 78% of companies globally are already using AI, a clear sign of how central it has become to economic and policy thinking.
Second, the energy transition is both an economic and an AI strategy. Despite a turbulent 2025 marked by geopolitics, trade disruptions and fractured supply chains, the energy transition story stood firm. Renewables accounted for over 90% of total power expansion in 2024. At the same time, the AI race and the energy race are converging. Data centres, the backbone of AI, already consume about 1.5% of global electricity, a figure expected to double by 2030. The message from the energy sector is clear. Renewables are at the core of the AI transition.
Third, and most importantly, cooperation in this fractured world. Geopolitics is impossible to ignore. Supply chains are under pressure, with geopolitical tensions impacting nearly 70% of international trade. Yet, amid these disruptions, a strong consensus on collaboration emerged. Terms such as resilient economies, inclusive AI, minilateralism and middle-power cooperation featured prominently across conversations.
With AI, energy and geopolitics dominating Davos 2026, for me, the Spirit of Dialogue over Dominance surfaced repeatedly. World leaders made bold statements and emphasized the need for cooperation. While I spotted the longest lines at the Congress for President Trump & Elon Musk’s sessions, the conversations that have really stayed with me were the ones with more substance and less dominance. Prime Minister Mark Carney stood out for courage in his speech, spoke about the old-world order not returning and reaffirmed why middle powers must work together, “because if you are not at the table, you are on the menu”. Another session that I enjoyed particularly in the main plenary hall of the Congress was with Johan Rockstrom, who delivered a sharp and responsible perspective on energy transition, followed by Sumant’s crisp articulation of India and the Global South’s Leadership in building a faster-cleaner transition. This was my proud India moment in Davos!
As I internalize this rupture in the world order, the Spirit of Dialogue over Dominance translates into three layers. First, listening before leading, because today the world suffers less from a shortage of leaders and more from a shortage of listeners. Second, co-creation over confrontation. Global challenges such as climate action, climate finance, AI and supply chains demand glocalised solutions and co-creation, delivering what I see as the real dialogue dividend by involving communities, women, youth and the vulnerable. Third, building bridges, not barriers, between developed and developing economies, the public and private sectors, and climate urgency and economic growth.
Davos 2026 has clearly set the tone and spirit right. As I head back home and return to business as usual, the real test will be translating dialogue into delivery across the three Cs: Capital, Coalitions and Cooperation.
For me, 2026 will be less about new targets and more about capital and where it is flowing. Clean energy investments have crossed USD 2 trillion globally, with around USD 24 billion flowing into India alone. The focus now must be on whether this capital is being deployed effectively for transition technologies, particularly in emerging economies.
Every year, Davos becomes a playground for coalitions. In 2026, the opportunity is to move decisively from intent to execution, from announcements to on-ground impact. Cooperation will remain the defining test. Fragmentation is not disappearing anytime soon, and the shift from multilateralism to minilateralism reflects a new reality. Our future will be shaped less by shared values and more by shared interests.
As we get to work, let’s remember why we are doing all this, it’s our quest to preserve the planet, a planet which is clean and congenial, a planet where our future generations can thrive and do so happily!
