An alumnus of Campion School and Cathedral and John Connon, Vaswani started off with acting in India's first TV soap opera 'Khandaan'. He then produced a Marathi film called 'Kis Bai Kiss', and a major television serial called 'Nai Dishayen', in which he also starred along with Navin Nischol, Anju Mahendroo, Girish Karnad, Parikshat Sahni, Sharon prabhakar, Jayant Kripalani. He produced 'Gawaahi', giving a break to Anant Balani as a director. The film starred Zeenat Aman, Tanuja, Vikram Gokhale, and both of India's Oscar nominated directors, Shekhar Kapur and Ashutosh Gowariker.
He went on to produce three films at Sippy Films, alongside GP Sippy, 'Patthar Ke Phool', 'Raju Ban Gaya Gentleman', and 'Aatish'; playing minor roles in them as well. He has launched Raveena Tandon, Shah Rukh Khan, and given breaks to many (Sanjay Gupta and Sanjay Gadhvi both assisted on 'Patthar ke Phool).
He has acted in more than 100 films.