WEF summit is where half of world's problems start: Bajaj

The annual World Economic Forum (WEF) summit at Davos may be a 'must attend' event on the calendars of global corporate leaders, but to Rajiv Bajaj, managing director of Bajaj Auto (BAL), it is the where half of the world's problems start.

"I have not been to Davos but if I can be candid, I think half of the problems start from World Economic Forum,"

He was responding to a query if he would like to showcase BAL's first four-wheeler, RE60 that is aimed at providing an alternative to 3-wheeler customers, at the gathering of the world's top honchos at the ski resort.

"...But my father is going there for the last 40 years. Everybody has position in life, my position is anti-management position," he said.

Bajaj didn't mince words expressing his dislike for the all-talk and no-action that emerges from such summits.

"...You said diesel engines on motorcycle, I am also awaiting for such engines... Such talks happen at World Economic Forum...It doesn't happen in design laboratories..

"I believe in being engineer. I don't believe in all this globalisation, top down, know, Wall Street and all that stuff...," he said.

BAL today unveiled a mini four wheeler for intra-city urban transportation targetting 3-wheeler customers. The RE60 is powered by a 200 cc, rear mounted petrol engine and has a top speed of 70 kmph with a mileage of 35 kmpl.

Asked for his comments on Tata Motors' Nano, Bajaj said: "I am personally not sure what the Nano is. If it is the cheapest car in the world or God's gift to 2-wheeler [customers]."