Prime Minister Narendra Modi, on Tuesday, appealed to the world to harness the power of knowledge, technology, and resources to strengthen humanity and find solutions to global challenges, stating that India is moving forward with confidence and stability in this era of uncertainty through its policies, programs, and reforms. Addressing the opening of the Bloomberg New Economy Forum in the capital, Mr. Modi emphasized the spirit of using power for empowerment. He noted that this spirit has guided his government’s economic policies and global initiatives over the past 12 years. During this period, India prioritized affordable mobile data to extend telecommunications technology to remote areas, brought the convenience of digital payments to everyone from pushcart vendors to large retailers, and lifted 250 million people out of poverty.

Citing global initiatives led by India, such as the International Solar Alliance, the Big Cats Conservation Project, the Global Biofuels Alliance, the India-Middle East (West Asia)-Europe Economic Corridor, the Island Nations Infrastructure Alliance, and "Mission LiFE" for a healthy lifestyle and environmental stewardship, Mr. Modi stated that all these actions are inspired by India’s ancient philosophy of using power for empowerment. He explained that India has taken steps for the benefit of all and the welfare of every living being. Expressing his government’s commitment to economic reforms, the Prime Minister said, "We are reforming with a clear policy direction."

Highlighting the internal strength of the Indian economy, he referenced India’s 7.8 percent economic growth during the first quarter of the current financial year, from April to June 2026. He stated, "This growth is built on a strong foundation. Twelve to thirteen years ago, India’s current account deficit was more than 4 percent of Gross Domestic Product (GDP). Last year, it decreased to nearly half a percent, specifically 0.61 percent. Today, our foreign exchange reserves are over $700 billion. Our banking system is in its strongest condition in decades."

The Prime Minister said that due to India’s economic strength, global credit rating agencies are improving the country’s sovereign credit rating. He mentioned measures such as the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code, four new labor laws, and the removal of jail sentences for minor offenses in business laws, adding, "Today, India’s confidence is at an unprecedented high... and we are not stopping here; the pace of reforms in India is accelerating. For us, reforms are not a compulsion, but a commitment."