Ashwini Vaishnaw at Davos: 'India to produce 7-nanometer chips by 2030'

At Davos 2026, Union Minister Ashwini Vaishnaw outlined India's economic roadmap, targeting 7-nanometer chip production by 2030 and 3-nanometer by 2032. Vaishnaw cited GST reforms, labor changes, and the opening of the nuclear sector as primary investment drivers. He also noted that Indian Railways has achieved 99.6% electrification. Axis Bank MD and CEO Amitabh Chaudhry addressed the resilience of the banking sector and export industries despite global trade uncertainties and US tariffs. Chaudhry stated that current interest rates support growth, reducing the immediate need for further cuts. The report also documented the Indian rupee reaching a record low of 91.74 against the US dollar due to geopolitical tensions. Deloitte South Asia CEO Romuald Shetty and Bharti Enterprises Vice Chairman Rajan Mittal discussed India's potential as a global AI hub and the necessity of new Free Trade Agreements to manage market volatility. These leaders emphasized a shift toward product innovation and strategic trade diversification to maintain India's growth trajectory amidst global economic shifts.