"Power Exists to Empower Others": PM Modi at Bloomberg New Economy Forum | 8 Key Takeaways

Addressing the Bloomberg New Economy Forum hosted in Delhi, Prime Minister Narendra Modi emphasized that the global community looks to India with confidence—from affordable pharmaceuticals to skilled talent. Highlighting India's historical ethos of shared progress, he noted that while India gave the world the concept of "zero," it never demanded credit or royalties for it.

Speaking for 25 minutes at the three-day summit—centered on the theme "Defining New Sources of Power in a Changing World"—the Prime Minister underscored that true strength lies in empowering others rather than wielding dominance.

8 Key Takeaways from PM Modi's Address

1. Empowerment Over Dominance: Knowledge, wealth, and power hold meaning through the purpose they serve. India’s core philosophy remains bridging divides and creating global opportunities.

2. Global Vaccine Support: During the pandemic, India supplied vaccines to over 100 nations, reaffirming its dedication to leveraging domestic capabilities for global public good.

3. Navigating the AI Era: As artificial intelligence, supply networks, critical minerals, and energy increasingly become levers of geopolitical friction, the world requires dependable and stable partners.

4. Lifting 250 Million Out of Poverty: Over the last decade, targeted governance has helped 25 crore people emerge from poverty, accompanied by the decentralization of startup hubs into Tier-2 and Tier-3 cities.

5. Economic Momentum: Highlighting institutional reforms, the PM pointed to a 7.8% GDP growth rate, foreign exchange reserves exceeding $700 billion, and sustained ease-of-doing-business initiatives.

6. Digital Inclusion via Affordable Data: Lower mobile data costs since 2014 have leveled the field for youth in smaller towns, opening access to digital education, tech resources, and new employment tracks.

7. Transparent Governance: Direct-benefit transfers and governance digitization have curtailed leakages and enhanced accountability across central welfare distribution.

8. Mother of Democracy: Emphasizing India’s democratic credentials, he remarked that effective governance must focus on unlocking human potential rather than consolidating state control.

India's Focus on Stability and Trust

Referring to global initiatives like the International Solar Alliance (ISA) and Mission LiFE, PM Modi reiterated: "Power exists to empower others. India prioritizes connectivity, reliability, and stability in a divided world."

Founded in 2018 by Michael Bloomberg, the New Economy Forum convenes heads of state, global executives, investors, and policymakers to tackle systemic challenges in global trade, technology governance, climate finance, and shifting geopolitical power balances.