New Delhi, May 11 Union Minister Ashwini Vaishnaw on Monday said despite global turbulence, India has managed the situation effectively through well-thought-through policies and decisive execution under the Prime Minister Narendra Modi’s leadership.
Speaking at the inaugural session of the CII Annual Business Summit 2026 here, he outlined three major pillars driving India’s transformation -- railways, electronics & semiconductors and artificial intelligence.
Highlighting the unprecedented scale of transformation in the Railways sector, Vaishnaw said railway capital expenditure has increased from approximately Rs 66,000 crore a few years ago to nearly Rs 2,72,000 crore in the last financial year.
“The execution capability of the entire railway ecosystem has expanded simultaneously, reflecting a major cultural transformation in project implementation and delivery,” Vaishnaw stated.
“Nearly 49,000 kilometres of railway tracks have been electrified, equivalent to the entire railway network of Germany. Production of wagons and locomotives has also increased significantly,” he added.
The minister further outlined India’s transformative infrastructure, manufacturing, and technology journey, by calling upon citizens and industry alike to contribute towards building a resilient and self-reliant India.
“India’s focus remains firmly on quality, cost competitiveness, and process efficiency -- all critical pillars in the journey towards a Viksit Bharat,” he added.
The Minister said a new wave of electronics manufacturing facilities across the country is fostering quality-focused and lean manufacturing practices, laying the foundation for a technologically advanced and self-reliant India.
Calling Artificial Intelligence one of the most transformative technological revolutions in history, Vaishnaw said AI is reshaping the world at an unprecedented pace.
“India must adopt a clear and strategic approach towards AI, ensuring that the country becomes a beneficiary of the technology by leveraging it to improve productivity, quality, and production efficiency across sectors,” he emphasised.
“Against the backdrop of global geopolitical uncertainty and continuing conflicts, the Prime Minister’s clarion call to the nation carries even greater significance today,” he said.
Highlighting India’s large energy import dependence and the importance of foreign currency reserves for economic resilience, he urged citizens to contribute by reducing expenditure that leads to foreign exchange outflow while simultaneously increasing efforts to earn foreign exchange and strengthen reserves.
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