Union Minister Ashwini Vaishnaw warned of heightened global turbulence in the coming years due to technological disruptions, artificial intelligence, and financial risks, emphasizing India’s efforts to strengthen economic and technological resilience to protect its growth from external shocks. Speaking at the Bloomberg New Economy Forum 2026, Vaishnaw, who holds portfolios for Electronics and IT, Information and Broadcasting, and Railways, highlighted the need for continuous evaluation of global supply chain partners to avoid over-dependence on any single country or company.
Global technology supply chains will remain spread across multiple countries and regions, but Vaishnaw stressed that companies and governments must repeatedly assess their partners to ensure resilience. He noted that it remains highly globalized, with value chains spanning multiple borders and geographies, reflecting the industry’s inherent nature.
Strategic Dependencies and Continuous Evaluation
“Strategic dependencies, which are the countries you can trust, which are the places where you believe that your production, your design, your dependency on a particular country or a company does not make you lose your resilience…Those are the decisions which will have to be taken again and again, continuously,” Vaishnaw said.
The minister cautioned that global uncertainty is likely to intensify, driven by rapid technological change and financial risks, particularly high debt levels in developed economies.
He indicated that the eventual unwinding of these debt levels could trigger significant economic disruption within 3-5 years, compounding challenges from AI-driven changes in employment and service industries.
AI, Debt Risks, and Future Challenges
Vaishnaw warned that the convergence of AI advancements and financial instability could create unprecedented turbulence. The combination of these factors, technology disruptions, employment shifts, and debt unwinding, may make the coming years exceptionally challenging for global economies.
Trust is becoming as critical as cost in these chains, especially amid rising cybersecurity threats and concentration in semiconductor markets. Vaishnaw emphasized that evaluating partners is not a one-time task but an ongoing process to maintain technological sovereignty and economic resilience.
Cisco Chairman and CEO Chuck Robbins supported India‘s approach, citing its engineering capabilities, technological expertise, and status as a trusted partner for global companies. “India has been an incredible trusted partner for lots of American companies, in particular, and global companies…it really does create an environment where we are comfortable investing,” Robbins said.
