PM Modi tells Bloomberg forum India grows with the world, not at anyone's cost

India's economic expansion is built on durable fundamentals and aims to lift partner nations alongside its own rise, Prime Minister Narendra Modi told international business leaders on Tuesday.

Speaking at the Bloomberg Economic Forum in New Delhi, Modi made a clear pitch for India as a dependable anchor during a period marked by trade conflicts, fragmented supply routes, and geopolitical friction. "We do not grow at anyone's cost. We grow with the world. And for the world," Modi said.

Strong indicators back growth story

Modi pointed directly to recent economic data to underline the country's momentum, noting gross domestic product expanded by 7.8% in the April-June quarter. India's foreign exchange reserves have crossed $700 billion, providing a substantial buffer against external financial volatility.

The Prime Minister contrasted current stability with earlier fiscal vulnerabilities, pointing out that the current account deficit has fallen sharply over the past decade.

"This year, in the April to June quarter, India's economic growth was 7.8%. And this growth is taking place on a strong foundation," Modi said, adding that in a world unsettled by uncertainty, India offers predictable governance and stability.

Reforms driven by conviction

Modi emphasised that long-term structural overhauls across taxation, insolvency, and labour frameworks were deliberate policy choices rather than emergency fixes. "For us, reforms are not a compulsion. Reforms are our conviction," he said.

Setting out what he termed an operating philosophy of "power to empower", the Prime Minister argued that technological and economic scale should be judged by how many lives it improves. He cited the domestic rollout of digital public infrastructure—including digital identity and instant payment systems—as tools India is actively sharing with partners across the Global South.

He also pointed to India's clean-energy transition, burgeoning startup base, and the delivery of COVID-19 vaccines to more than 100 countries as proof that Indian capacity consistently serves broader international needs.

Warning against supply chain weaponisation

Turning to international trade, Modi warned that essential economic arteries are increasingly vulnerable to geopolitical manipulation. Critical minerals, energy supplies, logistics corridors, cross-border payments, and advanced technology are being converted into "tools for coercion and for exerting pressure", he said.

To counter that fragmentation, Modi called for deeper global collaboration on artificial intelligence, economic security, public health, and climate action, positioning India's expanding manufacturing base and talent pool as a reliable alternative for global businesses seeking long-term resilience.