Prime Minister Narendra Modi addressed the Bloomberg New Economy Forum, raising critical questions about the ongoing global race for power and the weaponization of essential resources. He emphasized that the current century has brought unprecedented global challenges, ranging from pandemics to international conflicts and persistent disruptions in trade, critical minerals, and energy supplies. He pointed out that systems which once united the world are now being converted into instruments of pressure and dominance, turning globalization routes into operational choke points.
The Weaponization of Supply Chains and Technology
Elaborating on the shifting global dynamics, the Prime Minister noted that whenever the world finds a way out of one crisis, a fresh challenge emerges. Supply chains, energy grids, mineral reserves, payment systems, and advanced technologies are increasingly controlled to exert leverage. Amidst these geopolitical tensions, artificial intelligence is reshaping every sector, while several nations grapple with aging populations. Consequently, the foremost question confronting the global community today is one of trust, ensuring that supplies remain uninterrupted during times of need and that international partners stand by their commitments.
A Unified Digital Payment Ecosystem
Inviting international guests to experience India's digital payment infrastructure, the Prime Minister pointed to the remarkable inclusivity of the system. He observed that while a roadside vendor and a luxury car showroom operate on vastly different scales, both successfully utilize the exact same digital payment platform. This seamless integration demonstrates the true power of inclusive technology in bridging economic gaps and empowering everyday citizens.
Explosion of Startups and Democratic Expression
Highlighting the country's entrepreneurial boom, the Prime Minister stated that the number of startups in India has surged from just a few hundred prior to 2014 to over 250,000 today. Nearly half of these emerging enterprises originate from smaller towns and tier-two cities, while about 45 percent boast a female director or partner, ensuring broader participation in innovation. Describing the nation as the mother of democracy, he noted the coexistence of over 100 languages, roughly 80,000 registered newspapers and publications, and more than 1,000 satellite television channels. With over 500 million YouTube users and over 500 million Instagram users, public discourse and open debates thrive across various digital and traditional channels.
Redefining Power in the 21st Century
Discussing the philosophy of governance, the Prime Minister remarked that the ethos of empowering others stems from thousands of years of tradition rather than mere preaching. Noting that the theme of the Bloomberg New Economy Forum centers on emerging global powers, he stressed that while the sources of power evolve with time, data, knowledge, and innovation define power in the twenty-first century. The fundamental question is not who holds power, but how it is utilized to create opportunities for millions rather than a select few. He concluded by congratulating Michael Bloomberg and his entire team for selecting India as the venue for this landmark forum at such an opportune moment.
