India grows ‘with the world, not at anyone's cost’, cites strong economic fundamentals, says PM Modi

India's Prime Minister Narendra Modi addressed the Bloomberg Economic Forum on Tuesday, emphasizing the nation's strong economic fundamentals and commitment to shared prosperity rather than growth at the expense of other nations. In the face of geopolitical tensions and growing competition over critical technologies and resources, Modi asserted that India seeks to expand its global economic influence by fostering mutual benefits.

Citing India's 7.8% economic growth in the April-June quarter, Modi highlighted the country's macroeconomic resilience, including a significant reduction in its current account deficit and strong foreign-exchange reserves exceeding $700 billion. He argued that economic and technological strength should be measured by their impact on people's lives and opportunities for others, encapsulated by his approach of "power to empower."

Modi outlined India's digital public infrastructure, burgeoning startup ecosystem, and expanding clean-energy capacity as examples of how the nation's domestic capabilities could promote inclusive growth. He emphasized that India is sharing its expertise in digital identity, payments, and public infrastructure with partner countries, particularly those in the Global South.

The Prime Minister warned that supply chains, energy, critical minerals, payment systems, and technology are increasingly being used as tools of geopolitical pressure, underscoring the importance of reliable partners and resilient economic systems.

Modi's remarks come as India seeks to attract investment, enhance its role in global supply chains, and deepen economic partnerships with emerging markets. He positioned the country's growth not only as a domestic achievement but also as a source of technology, talent, and solutions for other economies. He highlighted India's digital infrastructure, startup ecosystem, renewable energy capacity, and macroeconomic improvements, arguing that its rise offers a model of inclusive growth amid global uncertainties.