Prime Minister Modi Highlights Economic Strength and Shared Growth at Global Forum

India's economic growth relies on solid foundations and continuous reforms, Prime Minister Narendra Modi said while speaking in New Delhi. He stated that the country aims to expand its global economic reach through shared prosperity instead of growing at the expense of other nations.

Key Figures and Reforms

Speaking at a Bloomberg Economic Forum, the Prime Minister pointed to the country's 7.8% economic growth during the April-June quarter as proof of economic strength. He noted that foreign-exchange reserves have crossed $700 billion, while reforms have covered taxation, insolvency, and labour laws. He also mentioned that the current account deficit dropped from over 4% twelve to thirteen years ago to about half a per cent now.

Global Challenges

Mr. Modi warned that supply chains, energy supplies, critical minerals, payment systems, and technology are turning into tools for geopolitical pressure and coercion. He called for greater international cooperation on climate change, public health, artificial intelligence, and economic security. He positioned India as a reliable partner offering technology, talent, and solutions to other economies.

Context

India is currently working to attract foreign investment and position itself as an alternative manufacturing hub amidst global trade uncertainties. The country's focus on digital public infrastructure and renewable energy forms part of a broader push to share domestic innovations with the Global South.