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Informist, Monday, May 11, 2026

--Vaishnaw: Need to conserve forex, ensure inflow
--Minister Vaishnaw: Inflation to stay under control

NEW DELHI – Union Minister of Railways, Information & Broadcasting, Electronics and Information Technology Ashwini Vaishnaw Monday urged people to conserve foreign exchange, while ensuring inflow. "We need to reduce our expenditure on everything that requires foreign exchange to be spent. In our own ways of working we can identify to conserve the foreign exchange. Simultaneously, we must also earn foreign exchange, both things have to go in parallel," he said in his address at Confederation of Indian Industry Annual Business Summit 2026 in New Delhi.

This comes on the backdrop of Prime Minister Narendra Modi asking people cut fuel consumption, and conserve foreign exchange amid the West Asia war. "These energy products that we import from abroad, we must try to use only as much as needed. This will save foreign exchange and also reduce the adverse effects of the crisis of war," Modi had said.

After the war started on Feb. 28, the rupee has seen significant volatility and has fallen 4.5% against the dollar, hitting a new lifetime low of 95.4025 Tuesday. On Monday, the rupee fell sharply below the key 95-per-dollar mark as crude prices rose after peace talks between the US and Iran hit an impasse following US President Donald Trump's comment that Iran's response to the US peace proposal was unacceptable.

Encouraging industry leaders to increase investments across sectors, Vaishnaw said India is going to come out of ongoing geopolitical issues as 'winners'. "We will continue to grow at 6-8%. We will continue to have inflation under control...please be assured that our growth is a long-term growth. Our journey is a very steady journey," he said.  End

Reported by Sagar Sen, Shakshi Jain, and Astha Oriel

Edited by Akul Nishant Akhoury

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