Prime Minister Narendra Modi has highlighted the Centre’s governance approach, describing it as a model based on empowering people and creating opportunities for wider development. Addressing the Bloomberg New Economy Forum in New Delhi, he said India’s progress depends on collective growth and ensuring that the benefits of development reach more people. He explained that power should not only help individuals move forward but also enable others to achieve their goals. He also emphasised the growing importance of digital capabilities in expanding opportunities across the country.

Modi said India’s economy continues to grow on a strong foundation despite uncertainty in the global environment. He pointed to GDP growth of 7.8% in the first quarter of the financial year, foreign exchange reserves exceeding $700 billion and the banking sector’s strong position. He added that the country’s reform process is continuing at a rapid pace.

The Prime Minister described India’s development journey as one that seeks to include everyone and ensure shared progress. He said India is prepared to support the international community when stability and cooperation are needed. He also highlighted the country’s growing role in global business, noting that more than 2,000 Global Capability Centres operate in India and provide services to companies worldwide.

According to Modi, technology, data, knowledge and innovation have become major sources of influence and progress in the twenty first century. He said the government aims to use India’s growing capabilities to create opportunities for other countries as well. Highlighting the country’s diversity, he referred to India’s democratic traditions, more than 100 languages, around 80,000 registered newspapers and publications, and over 1,000 satellite television channels.

Modi also highlighted the government’s claim that approximately 25 crore people have moved out of poverty over the past decade. He further pointed to the expansion of India’s startup ecosystem since 2014, with the number of startups exceeding 2,50,000. He noted that nearly half of these businesses are based in smaller cities and towns, while more than 45% have at least one woman director or partner. These developments, he said, reflect the expanding role of entrepreneurship and wider participation in India’s economic growth.