DAVOS, Jan 27: Fast-growing India and China were once again being courted by the global elite in Davos this week, while Russia was snapping on their heels by offering up heavyweights from its coveted oil and gas industry.

The World Economic Forum's slogan this year, the “shifting power equation”reflected the growing influence of emerging and transition economies.

They are elbowing their way into the world economy, diluting the influence of traditional western industralised powers, according to the Forum's organisers, who are also highlighting the expanding role of civil society and business.

German Chancellor Angela Merkel, who currently heads the G8, was adamant that China and India, along with Brazil, Mexico and South Africa, should enjoy closer ties with the club of rich nations, 10 years after Russia was invited in.

Merkel pledged in her keynote opening speech Wednesday to seek agreement with the five emerging nations on a “new form of dialogue” with G8 at the group's Summit in July.

“The dialogue will start there and then be carried on in other international organisations,” Merkel said.

She later referred to the deadlock in global free trade talks, which is partly pitching the EU against developing and emerging nations like India.

Barely 15 years ago, objections from those nations about free trade would have been quickly swept aside by industralised trading powers.

Sixty-six representatives of Indian business and politics are in Davos this year, including Industrial Development Minister Ashwani Kumar and steel group Arcelor Mittal's new owner Lakshmi Mittal.

Sunil Bharti Mittal, managing director of Indian telecommunications group Bharti Enteprises, underlined that India's current 620 million people of working age would rise to 850 million within 10 years.

“The world needs to adopt this talent, adopt this global pool because it's responsible, it comes out of a democratic field,” he said.

This year's presence was more low-key than the India that burst onto the scene in the Swiss Alps in January 2006 backed by a highly visible marketing campaign.

Meanwhile, the Russians reinforced their presence this year with 43 executives and government leaders, compared to 27 guests invited by the Forum in 2006.

Fresh arrivals included Alexander Medvedev, the vice president of Gazprom, whose gas supply to Europe is proving to be troublesome for the European Union, and Vice Prime Minister Dimitri Medvedev, a rising political star.

They were joined by the chief executive of Lukoil, Vagit Alekperov, and Alexei Mordashov, the boss of steel giant Severstal.

Davos was touting “a new era for petropolitics” in a debate Thursday just two weeks after a political spat between Belarus and Russia blocked pipeline deliveries to Europe.

China's corporate presence in Davos continued to be strong a year after the Asian giant was the talk of the town because of its booming economy and impact on global commodity and oil prices.

Coming from Asia, what I hope for is a discussion about the rise of China, India and other countries in Asia not being a threat but an opportunity, said Michelle Guthrie, chief executive of Hong Kong's Star Group.

Few Chinese government officials were on the guest list, but several executives of Chinese companies including oil firm Sinopec and computer giant Lenovo -- which bought IBM's personal computer business in 2005 -- were represented at the annual meeting.Wu Jianmin, head of the Chinese Foreign Affairs University, regretted that more of his compatriots had not made the trip. “Many Chinese bosses do not speak English,” he explained.

Instead of bringing the Chinese to the Forum, however, the Forum is going to the Chinese.

Last year, the Forum agreed to open its first Asian office in China and a first annual meeting of “global growth companies” in the Chinese city of Dalian is due in September. Chinese state media called the meeting the “summer Davos”.--AFP