New Delhi, 13 October (H.S.): Prime Minister Narendra Modi has said that while the world is grappling with multiple crises, India is pursuing a distinct approach centred on the philosophy of “Power to Empower”. He said India has increasingly become a symbol of global welfare and trust. The Prime Minister also highlighted the strength of India's democracy and its openness to frank discussions on important issues, noting that digital technology is playing a significant role in strengthening democratic discourse.

Addressing the Bloomberg New Economy Forum on Tuesday, PM Modi outlined India's approach to democratic debate, digital inclusion and tackling global challenges. Welcoming participants from across the world, he noted that the forum provides a platform for discussions on technology, energy and global issues. He congratulated Bloomberg and its team on organising the event in India for the first time.

Speaking about the challenges confronting the international community, PM Modi said that the very things that once connected the world were increasingly being used as weapons. Supply chains, energy resources, minerals and technology were becoming instruments of pressure and dominance, he observed. Against this backdrop, India was working towards addressing some of the world's most pressing concerns relating to trust and cooperation.

The Prime Minister highlighted several Indian-led international initiatives, including the International Solar Alliance, the Coalition for Disaster Resilient Infrastructure, the International Big Cat Alliance, the Global Biofuels Alliance, the India-Middle East-Europe Economic Corridor and Mission LiFE. He presented these initiatives as efforts designed to deliver benefits on a broad scale and address shared global challenges.

PM Modi said data, knowledge and innovation had emerged as major sources of power in the modern world. However, their true significance depended on how they were used. This, he explained, was the essence of the philosophy of “Power to Empower” — using one's capabilities and resources to enable others to progress. He said the principle had deep roots in Indian tradition and had been incorporated into the country's governance and working culture.

Highlighting India's democratic diversity, PM Modi said the country had more than 100 languages, over 80,000 newspapers and publications, and more than 1,000 satellite television channels. He also noted that YouTube and Instagram each had more than 500 million users in India. According to him, digital platforms were playing an increasingly important role in facilitating public debate and democratic participation.

The Prime Minister also encouraged international visitors to experience India's digital payment system firsthand. He said the platform demonstrated the transformative potential of inclusive technology by connecting people across economic backgrounds, from street vendors to premium retail outlets.

Referring to the expansion of India's startup ecosystem,PM Modi said the country had only a limited number of startups before 2014, whereas their number had now exceeded 250,000. He said the country was witnessing the emergence of more talent and expanding opportunities for innovation and entrepreneurship.

The Prime Minister further stated that India's foreign exchange reserves had reached $700 billion and that the country's banking system remained strong. He emphasised that the pace of economic reforms had accelerated, adding that these changes were being driven by conviction rather than external pressure.

Modi's remarks underscored India's stated approach of combining technological progress, democratic participation and international cooperation to address global challenges, while using its growing economic and digital capabilities to expand opportunities for its citizens and contribute to wider global welfare.

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Hindusthan Samachar / Jun Sarkar