Confidence in India's economy remains strong: Ashwini Vaishnaw

Union minister Ashwini Vaishnaw

Amid ongoing geopolitical tensions between India and Pakistan, Union Minister for Electronics and IT, Railways, and Communications Ashwini Vaishnaw dismissed fears of economic uncertainty, asserting that global confidence in India's economy remains undeterred.

"There is a very high level of confidence abut our country's economy, about our Prime Minister's policies about the excellent talent that we have in our country," Vaishnaw said on the sidelines of an event on May 13.

His remarks come at a time when geopolitical tensions have raised questions about potential impacts on foreign investment and supply chain stability. However, Vaishnaw maintained that investor sentiment continues to be buoyant.

“Everybody wants to come to India at a much faster pace,” he said. He added that India’s policy stability and skilled workforce are drawing global attention.

Recently the government notified the a scheme to incentivise indigenous production of components and sub-components. The government is also working on bringing the second phase of India Semiconduction Mission.