New Delhi, October 14: Union Minister Ashwini Vaishnaw has warned that the world could face heightened economic and technological turbulence over the next few years, driven by rapid advances in artificial intelligence (AI), disruptions in employment and mounting debt levels in developed economies.
Speaking at the Bloomberg New Economy Forum 2026, Vaishnaw said India was strengthening its economic and technological resilience to protect growth from external shocks.
Vaishnaw, who holds the portfolios of Electronics and Information Technology, Information and Broadcasting, and Railways, said global technology supply chains would remain interconnected across multiple countries. However, governments and businesses would need to continuously assess their partners to ensure that excessive dependence on a particular country or company did not compromise their resilience.
He emphasised that trust, reliability and strategic independence were becoming increasingly important considerations alongside cost in technology supply chains.
According to the minister, countries must regularly evaluate their international partnerships and ensure that suppliers share similar priorities and approaches to security and reliability.
Vaishnaw cautioned that the coming years could prove more turbulent than previous decades, with technological changes and financial vulnerabilities creating additional pressure on the global economy.
He pointed to high debt levels in wealthy economies, warning that any significant financial adjustment over the next three to five years could trigger wider economic disruptions.
The minister also highlighted the potential impact of AI on employment, particularly in the services sector, where automation and changing work patterns could reshape industries and labour markets.
He said the combination of financial uncertainty and rapid technological transformation made preparedness a major priority for governments and businesses.
Vaishnaw further stressed that cybersecurity concerns and concentrated production in certain semiconductor segments had increased the importance of building dependable technology supply chains.
Cisco Chairman and Chief Executive Officer Chuck Robbins supported India’s approach, noting that the country had the scale, engineering talent and technological capabilities needed to develop critical technologies while working with trusted international companies in other areas.
Robbins said India’s position as a reliable partner for American and global businesses helped create an environment conducive to investment.
The discussions highlighted the growing importance of technological self-reliance, trusted international partnerships and economic preparedness as countries navigate emerging global risks.
