India does not grow at anybody’s cost; it grows with and for the world: PM Modi

The Prime Minister cited the country's 7.8% economic growth in the April-June quarter, foreign-exchange reserves exceeding $700 billion and reforms spanning taxation, insolvency and labour laws as evidence of its resilience

Updated - October 13, 2026 03:49 pm IST - New Delhi

In this screengrab from a video posted on Oct. 13, 2026, Prime Minister Narendra Modi addresses the Bloomberg New Economy Forum, in New Delhi. | Photo Credit: @NarendraModi/YouTube/PTI

India does not grow at anybody’s expense; instead, it grows with the world and for the world, Prime Minister Narendra Modi said at the Bloomberg New Economy Forum in New Delhi on Tuesday (October 13, 2026), underlining India as a steady and trusted pillar for the globe.

“Whenever the world requires a steady pillar, India comprehends its responsibility and extends a hand in support,” said Mr. Modi, emphasising, “We do not grow at anyone’s cost; we grow with the world and for the world.”

In his address, the Prime Minister also said that reforms being undertaken in India were not driven by compulsion but conviction.

India is about reliability, stability

The Prime Minister mentioned that India offers stability and can be relied upon in an uncertain world.

He pointed to the country having clocked a growth rate of 7.8% in the first quarter of the ongoing financial year emphasising that it rested on strong foundations.

Mr. Modi also pointed to India’s current account deficit standing at 0.61%, foreign exchange reserves being above $700 billion alongside a strong and resilient banking sector, among other things.

“It is because of this strength that India’s sovereign ratings are being upgraded. Today, India’s confidence is at an unprecedented high,” he stated.

Conviction-driven reforms, not compulsion

“India’s Reforms Express continues to accelerate at a fast pace. For us, reforms are not a compulsion; they are our conviction,” Mr. Modi emphasised.

Previously, Mr. Modi had stated that reforms being undertaken in India had a clear policy direction.

He specifically pointed to simplification of the taxation regime with the GST, enacting insolvency laws, consolidation and simplification of labour codes and decriminalising of minor business-related offences, as examples.

‘Power to empower’ can help address global challenges

Mr. Modi put forth that beyond the power to control, to compete and to succeed individually rested the idea of power to enable, to collaborate and to help others succeed.

On similar lines, he stated, that India adheres to the notion of ‘Power to Empower’.

He said that India ties the notion into its governance and work culture, pointing to New Delhi having supplied coronavirus vaccines globally during the pandemic and discussions about the use of AI for animal welfare at the recently concluded AI Summit, among other things.

Thus, he stated, “The more capable and stronger India becomes, the more beneficial it will be for humanity and for the world.”

Urging deeper cooperation and dialogue, Mr. Modi said, “Through dialogue, our understanding deepens. And by understanding one another, we can jointly solve great challenges. This is the essence of ‘Power to Empower’. It means not limiting our power solely to our own progress but using it to create new opportunities as well.”

Published - October 13, 2026 12:08 pm IST

economy, business and finance / economy (general) / Narendra Modi

Terms & conditions | Institutional Subscriber

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.