New Delhi : Prime Minister Narendra Modi said India was advancing with a distinct approach centred on “Power to Empower” at a time when the world was facing multiple challenges. Addressing the Bloomberg New Economy Forum in New Delhi on Tuesday, he highlighted India’s democratic strengths, digital inclusion, innovation and role in addressing global economic and technological challenges.
Welcoming participants from across the world, Modi noted that the forum provides a platform for discussions on technology, energy and global issues. He congratulated Bloomberg and its team on holding the event in India for the first time.
Global Challenges Call for Cooperation and Trust
The Prime Minister said that resources and systems that once connected countries were increasingly being used as instruments of pressure and dominance.
He cited supply chains, energy, minerals and technology as areas where global interdependence was becoming a source of strategic competition.
Against this backdrop, Modi said India was working towards solutions that could strengthen global cooperation and benefit people across countries.
He highlighted initiatives such as the International Solar Alliance, Coalition for Disaster Resilient Infrastructure, International Big Cat Alliance, Global Biofuels Alliance, India-Middle East-Europe Economic Corridor and Mission LiFE as examples of efforts aimed at creating wider public benefits.
‘Power to Empower’ Through Technology and Knowledge
Modi said that data, knowledge and innovation have become important sources of power in the modern economy. Their real value, he argued, depends on how they are used and whether their benefits reach a wider section of society.
He described the idea of “Power to Empower” as a principle rooted in Indian traditions and one that India has sought to incorporate into governance and its working culture.
The emphasis, he said, should be on using technological capabilities to create opportunities, strengthen participation and enable more people to benefit from economic progress.
India’s Diversity and Digital Democracy
The Prime Minister highlighted India’s diverse media and digital landscape as evidence of the country’s democratic character.
According to the figures cited in his address, India has more than 100 languages, 80,000 newspapers and publications, and over 1,000 satellite television channels. He also referred to the country’s large digital audience, with more than 500 million users each on YouTube and Instagram.
Modi said digital platforms were playing an increasingly important role in public discussion and democratic participation. India’s diversity, he added, remained one of its greatest strengths.
Digital Payments Make Technology Accessible
Modi invited international participants to experience India’s digital payment system, describing it as an example of how technology could make economic participation more inclusive.
He said the digital payments ecosystem connects people across different economic backgrounds, from roadside vendors to customers and businesses operating in premium retail outlets.
The system, he suggested, demonstrates how accessible digital infrastructure can reduce barriers and expand participation in the economy.
Startup Ecosystem Expands Beyond 2.5 Lakh
Highlighting India’s innovation ecosystem, the Prime Minister said the country had witnessed a significant expansion in the number of startups since 2014.
He noted that India now has more than 250,000 startups, reflecting the growing opportunities available to entrepreneurs and innovators.
Modi said the expansion of digital access and innovation had helped more people participate in economic activity, with talent emerging from different regions and backgrounds.
Forex Reserves Cross $700 Billion
The Prime Minister also highlighted India’s financial position, stating that the country’s foreign exchange reserves had reached $700 billion and that its banking system remained strong.
He said reforms were progressing rapidly and emphasised that the government’s reform agenda was being pursued with conviction rather than in response to external pressure.
The remarks placed economic reforms, financial stability and innovation alongside digital inclusion as important elements of India’s approach to development. India’s foreign exchange reserves had exceeded the $700 billion mark in August 2026, according to reported Reserve Bank of India data.
India Positions Technology as a Tool for Shared Progress
Modi’s address brought together themes of global cooperation, democratic participation, technological development and economic inclusion.
His central message was that power in the modern economy should not be measured only by control over technology, data or resources. Instead, these capabilities should be used to create opportunities and improve people’s lives.
The “Power to Empower” vision, he said, reflects India’s approach to development: using technology, knowledge and innovation to widen access, strengthen capabilities and support broader prosperity.
