Vasavi is from the Sanskrit वासवी (Vāsavī — belonging to Vasu / Indra, brilliant) — from Sanskrit vasu (wealth/excellence) epithet of Indra. Vasavi is one of the Sanskrit feminine names — central to traditional Hindu heritage.
Vasavi does not currently appear in the US Social Security Administration's top 1,000 girls' names, so we don't publish a US rank or birth count for it. That says nothing about the name's standing elsewhere in the world — only that it sits outside the ranked US data we rely on.
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In Pythagorean numerology the letters of Vasavi reduce to 2, The Peacemaker. This is a traditional interpretive system, not a factual claim about the name.