The minister highlighted the importance of industry‑wide dialogue on regulatory challenges, notably the harmonisation of data localisation norms across the US and Europe.
Union Minister for Railways, Information and Broadcasting, and Electronics and Information Technology, Ashwini Vaishnaw, has projected a robust growth trajectory for the Indian economy over the next five years.
“India will continue to grow 6-8 per cent in real terms and 10-13 per cent in nominal terms, supported by moderate inflation and strong fundamentals,” Vaishnaw said at the session ‘Bet on India; Bank on the Future’, organised by the Confederation of Indian Industry (CII) in association with EY, on the sidelines of the World Economic Forum (WEF) Annual Meeting in Davos.
He highlighted the impact of administrative reforms, noting that the average time for telecom tower installation has dropped from 270 days to just seven, with 89 per cent of permissions now granted in zero time.
Vaishnaw also stressed the need to bridge the gap between political intent and bureaucratic execution, urging alignment between governance and delivery. He reinforced the importance of industry-wide dialogue on regulatory challenges, including the harmonisation of data localisation norms across the US and Europe.
Rajiv Memani, President of CII and Regional Managing Partner of EY Africa India region, emphasised the urgency of boosting India’s per-capita income, currently among the lowest globally. He called for a fivefold increase by 2047, supported by diversified trade relationships with regions such as the Middle East, Asia Pacific, and the UK. Memani also pointed to key domestic reforms, including labour law changes and the implementation of GST, which has lowered tax rates on essential consumer goods.
Chandrajit Banerjee, Director General of CII, added, “This discussion is particularly timely. As the global economy navigates uncertainty, fragmentation, and rapid technological change, India stands out as a market of scale, stability, and long-term opportunity.”
The roundtable drew a highly diverse group of participants, representing a cross-section of global and Indian industry, reinforcing India’s positioning as a reform-driven, investment-ready economy.