India, Oct. 14 -- The global economy is heading towards a much rougher period than in recent decades, and India is gearing up for it, Union minister Ashwini Vaishnaw said on Wednesday.

Addressing the Bloomberg New Economy Forum 2026 in the Capital, Vaishnaw said challenges are likely to arise on two fronts: technology and finance. Artificial intelligence (AI) is likely to disrupt jobs and the services sector, and an even bigger shock could follow if the debt of rich countries starts to unravel, he said. "Difficult times ahead," he added.

Vaishnaw also said geopolitics plays a major role, which means India must keep adjusting its approach. He also said the government is planning in three stages to achieve its short-term (3-5 years), mid-...