New Delhi:- Prime Minister Narendra Modi said on Tuesday that India's economic growth is based on strong foundations and continuous reforms. He said India seeks to expand its role in the global economy not by harming other countries, but by promoting prosperity for all.
"We do not grow at the expense of others. We move forward with the world and for the world," Modi said. He presented India as a reliable economic partner at a time of geopolitical tensions, trade barriers and growing competition over critical technologies and resources.
Addressing the Bloomberg New Economy Forum, he cited India's economic growth of 7.8 per cent in the April-June quarter, foreign exchange reserves of more than $700 billion, and reforms related to taxation, insolvency and labour laws as indicators of the country's strength. "In a world full of uncertainties, India provides trust and stability," Modi said.
"India's economic growth stood at 7.8 per cent in the April-June quarter this year. This growth is taking place on a strong foundation," he said. Pointing to India's robust macroeconomic position, Modi noted that the country's current account deficit, which was more than 4 per cent 12–13 years ago, has now declined to around half a per cent.
The Prime Minister said a country's economic and technological strength should not be assessed solely on the basis of the power it possesses, but also by how effectively it uses that power to create opportunities for others.
"The real question is not who possesses power. The real question is how that power is being used," he said. Referring to India's digital public infrastructure, rapidly growing startup ecosystem and clean energy capacity, Modi said domestic capabilities could promote inclusive growth. He added that India shares its expertise in digital identity, payments and public infrastructure.
He warned that supply chains, energy, critical minerals, payment systems and technology are increasingly being used as tools of geopolitical pressure. In this context, the importance of reliable partners and resilient economic systems has increased. "All these are becoming instruments of exerting pressure and forcing others to yield," he remarked.
Modi's remarks come at a time when India is seeking to attract investment, expand its role in global supply chains and strengthen economic partnerships with emerging markets. The Prime Minister presented India's growth not merely as a domestic economic achievement, but also as a potential source of technology, talent and solutions for other countries.
Modi said India seeks to strengthen international partnerships, particularly with countries of the Global South, by sharing its expertise in digital payments, digital identity and public infrastructure. Warning against the weaponisation of supply chains, energy, critical minerals, payments and technology for geopolitical leverage, he called for greater international cooperation on issues such as climate change, public health, artificial intelligence (AI) and economic security.
