Prime Minister Narendra Modi told the Bloomberg New Economy Forum in New Delhi on Tuesday that India's economic growth rested on strong fundamentals and a sustained reform drive, pitching the country as a reliable partner in an era of geopolitical tension and trade disruption.
"We do not grow at anyone's cost. We grow with the world. And for the world," Modi said, arguing that economic and technological strength should be measured not by the power a country commands but by how effectively it creates opportunities for others. He summed up the approach as "power to empower."
The numbers he cited
Modi pointed to 7.8 percent growth in the April-June quarter, foreign-exchange reserves exceeding $700 billion, and reforms spanning taxation, insolvency and labour laws as evidence of resilience. "In this world full of uncertainties, India inspires reliability and stability," he said.
He also highlighted the sharp reduction in India's current account deficit — from more than 4 percent of GDP twelve to thirteen years ago to about half a percent now — calling it proof of strong macroeconomic fundamentals. "For us, reforms are not a compulsion. Reforms are our conviction," he added.
A warning on weaponized supply chains
The prime minister warned that supply chains, energy, critical minerals, payment systems and technology were increasingly being used as instruments of geopolitical pressure, making dependable partners and resilient economic systems more important.
Modi pitched India's digital public infrastructure, expanding startup ecosystem and clean-energy capacity as assets it was willing to share, particularly with countries in the Global South. He cited India's Covid-19 vaccine supplies to more than 100 countries as an example of using domestic capabilities to meet global needs, and called for greater international cooperation on climate change, public health, artificial intelligence and economic security.
Sources: Modi says India grows 'with the world, not at anyone's cost', cites strong economic fundamentals (PTI via DT Next)
"We do not grow at anyone's cost. We grow with the world. And for the world," Modi said, arguing that economic and technological strength should be measured not by the power a country commands but by how effectively it creates opportunities for others. He summed up the approach as "power to empower."
The numbers he cited
Modi pointed to 7.8 percent growth in the April-June quarter, foreign-exchange reserves exceeding $700 billion, and reforms spanning taxation, insolvency and labour laws as evidence of resilience. "In this world full of uncertainties, India inspires reliability and stability," he said.
He also highlighted the sharp reduction in India's current account deficit — from more than 4 percent of GDP twelve to thirteen years ago to about half a percent now — calling it proof of strong macroeconomic fundamentals. "For us, reforms are not a compulsion. Reforms are our conviction," he added.
A warning on weaponized supply chains
The prime minister warned that supply chains, energy, critical minerals, payment systems and technology were increasingly being used as instruments of geopolitical pressure, making dependable partners and resilient economic systems more important.
Modi pitched India's digital public infrastructure, expanding startup ecosystem and clean-energy capacity as assets it was willing to share, particularly with countries in the Global South. He cited India's Covid-19 vaccine supplies to more than 100 countries as an example of using domestic capabilities to meet global needs, and called for greater international cooperation on climate change, public health, artificial intelligence and economic security.
Sources: Modi says India grows 'with the world, not at anyone's cost', cites strong economic fundamentals (PTI via DT Next)
