Govt reforms transforming economy, says Vaishnaw

Union Minister for Railways, Communications, Electronics & Information Technology Ashwini Vaishnaw said India’s reform momentum had transformed the country’s economy into a high-growth, resilient and globally trusted destination.

At the World Economic Forum 2026 in Davos, Vaishnaw said India had undertaken a landmark reforms in recent years, including labour code reforms, simplification of the goods and services tax, reforms in the energy sector and opening up of nuclear energy to the private sector, which were generating strong investor confidence across sectors.

He cited several instances, including IKEA announcing plans to double its investment and Qualcomm significantly expanding its workforce in India. He said India was the fastest-growing major economy in the world, with a consistent growth trajectory of 6-8 per cent projected over next five years.