Prime Minister Narendra Modi is "creating a Hindu nationalist state" in India, said billionaire philanthropist George Soros at the World Economic Forum (WEF) in Davos on Thursday.

Calling out the actions of Modi government, particularly referring to Citizenship (Amendment) Act and Kashmir shutdown, Soros said that this approach was the great enemy of open societies around the world.

The 89-year old fund manager-turned-philanthropist further said that nationalism and jingoism were making further strides around the world with the "biggest and most frightening setback' in India.

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"The biggest and most frightening setback occurred in India where a democratically elected Narendra Modi is creating a Hindu nationalist state, imposing punitive measures on Kashmir, a semi-autonomous Muslim region, and threatening to deprive millions of Muslims of their citizenship," he said.

Soros also slammed a lot of world leaders lashing out at "would-be and actual dictators" in the world.

Soros condemned rising populism internationally and attacked US President Donald Trump, Chinese President Xi Jinping, PM Modi and Brexit.

The Hungarian-born billionaire described Trump as a "conman and the ultimate narcissist" adding that the current upsurge in already buoyant US economy may have come too soon for the US President as he faces re-election this year.

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"Trump... has managed to overheat an already buoyant economy. An overheated economy can't be kept at the boiling point for too long," cautioned Soros.

"If all this happened close to the election it would have assured his election. His problem is that the election is still 10 months away and, in a revolutionary situation, that's a lifetime," he added.

He also blamed social networking giant Facebook and accused it of colluding with Trump to get him re-elected in 2020 US election.

"Facebook will work together to re-elect Trump, and Trump will work to protect Facebook so that this situation cannot be changed and it makes me very concerned about the outcome for 2020," Soros said.

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The American billionaire also warned the Chinese President Xi Jinping had concentrated all the power around himself as the (Chinese) economy lost its earlier flexibility.

Soros further stated that Xi Jinping was aspiring to actualise a "new type of authoritarian system and a new type of human being who is willing to surrender his personal autonomy in order to stay out of trouble."

"Once lost, personal autonomy will be difficult to recover. An open society would have no place in such a world," he warned.

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