New Delhi, May 11 (IANS). Union Minister Ashwini Vaishnav on Monday said India has faced global instability strongly under the leadership of Prime Minister Narendra Modi and AI, semiconductors and railways will lead the next phase of transformation.
Speaking at the inaugural session of the CII Annual Business Summit 2026 in the national capital, the Union Minister said that the pace of change in the railway sector is extraordinary. Capital expenditure stood at Rs 2,72,000 crore in the last financial year, which was Rs 66,000 crore a few years ago.
“There has been a simultaneous expansion in the execution capacity of the entire railway system, reflecting a significant transformation in project implementation and delivery,” Vaishnav said.
He added, “Approximately 49,000 kilometers of railway track has been electrified, which is equivalent to the entire railway network of Germany. There has also been strong growth in the production of coaches and locomotives.”
Additionally, the Union Minister said that a new wave of electronics manufacturing facilities across the country are promoting quality-focused and cost-effective manufacturing practices, laying the foundation for a technologically advanced and self-reliant India.
Describing AI as one of the most revolutionary technological revolutions in history, Vaishnav said that AI is reshaping the world at an unprecedented pace.
“India must take a clear and strategic approach towards AI, ensuring that the country leverages this technology to improve productivity, quality and production efficiency across all sectors,” he emphasised.
He further said, “In view of global geopolitical uncertainty and continuing conflicts, the Prime Minister’s appeal to the nation has become even more important today.”
Highlighting India’s heavy dependence on energy imports and the importance of foreign exchange reserves for economic stability, he urged citizens to contribute by reducing expenses that lead to foreign exchange outflow as well as by increasing efforts to earn foreign exchange and strengthen reserves.
–IANS
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