DAVOS, Switzerland — India’s reform-driven growth trajectory is firmly on course and is earning strong global confidence, Union Minister Ashwini Vaishnaw said Thursday, pointing to widespread international trust in the country’s economic direction.
Speaking on the sidelines of the World Economic Forum annual meeting, Vaishnaw said India’s economy has evolved into a high-growth, resilient system as a result of deep structural reforms led by Prime Minister Narendra Modi.
He said a series of landmark policy changes in recent years has strengthened investor confidence across multiple sectors. These reforms include updates to labor codes, simplification of the Goods and Services Tax, changes in the energy sector, and the opening of nuclear energy to private participation.
According to the minister, the measures have made India a more attractive and predictable destination for global investors.
Vaishnaw said the reform process remains ongoing and spans all segments of the economy, adding that investors are responding positively to the current policy environment and expanding their footprint in India.
Citing recent developments, he noted that IKEA has announced plans to double its investment in the country, while Qualcomm is significantly increasing its workforce.
“Companies across sectors see this period as the right time to invest in India,” the minister stated.
Highlighting the country’s economic fundamentals, Vaishnaw said India is currently the fastest-growing major economy globally and is expected to sustain growth of 6 to 8 percent over the next five years.
He said the combination of moderate inflation and strong growth reflects an economic transformation achieved over the past decade that is now drawing global attention.
Addressing global uncertainties, the minister emphasized the need to strengthen domestic capabilities to navigate geopolitical, geoeconomic, and technological challenges.
“The government is focused on ensuring that all key building blocks of the economy are in place so that India can remain resilient even during global disruptions,” Vaishnaw mentioned.
He said India is steadily developing its own semiconductor ecosystem, building a full artificial intelligence stack, expanding defense manufacturing, and supporting Indian IT firms as they transition from traditional software services to AI-based solutions.
“These efforts are strengthening the country’s economic resilience and future readiness,” he added. (Source: IANS)
