Prime Minister Narendra Modi delivered a compelling address at the ‘Bloomberg New Economy Forum’ on Tuesday, asserting that India’s robust economic growth is anchored in strong fundamentals and relentless policy reforms. He emphasized that India does not seek economic expansion at the expense of other nations, but rather aims to drive global prosperity collaboratively. Positioned amidst rising geopolitical tensions, trade barriers, and resource competition, PM Modi presented India as a highly resilient, stable, and transparent economic ally for the international community.

Highlighting India’s macro-economic strength, the Prime Minister shared key economic indicators during his keynote address. India recorded an impressive 7.8 percent GDP growth rate in the April-June quarter of the current fiscal year. Furthermore, the country’s foreign exchange reserves have crossed the monumental $700 billion mark. Illustrating the sharp fiscal recovery, PM Modi noted that India’s current account deficit, which hovered above 4 percent 12 to 13 years ago, has now drastically reduced to approximately 0.5 percent. He pointed out that structural overhauls in taxation, insolvency codes, and labor laws reflect India’s inner strength, remarking, “For us, economic reforms are not out of compulsion, but a firm commitment toward national growth.”

Addressing global leaders, Prime Minister Modi cautioned against the growing tendency to weaponize global supply chains, critical minerals, energy supplies, payment gateways, and emerging technologies as instruments of geopolitical coercion. In contrast to these monopolistic trends, India advocates for inclusive progress, technological democratization, and equitable supply chain networks. He reiterated that India is actively sharing its expertise in Digital Public Infrastructure (DPI), digital identity solutions, and cashless payment frameworks with developing nations, particularly across the Global South.

PM Modi concluded that a nation’s true technological and economic prowess should not be judged merely by the concentration of power it holds, but by how effectively it deploys that power to create opportunities for millions worldwide. India’s growth narrative transcends domestic success, offering global talent, technological innovation, and sustainable solutions to pressing international challenges. He called for enhanced global cooperation in artificial intelligence (AI), public health, climate action, and economic security to build a more resilient world order.