NEW DELHI: Indian Prime Minister Narendra Modi positioned India as a reliable partner in an increasingly uncertain world, warning that the supply chains, trade and technologies that once connected countries are increasingly being used as instruments of coercion.
"One of the biggest questions facing the world today is that of trust, of confidence - the confidence that supplies will continue uninterrupted in times of need,” Modi said at the Bloomberg New Economy Forum in New Delhi on Tuesday (Oct 13). "And it is here that India stands before you today with a different mindset, with a different thought process.”
Modi pointed to "choke points” in global trade, referring to disruptions caused by wars, tariffs and major powers exercising greater state control over critical minerals and other inputs. Those challenges are compounded by the impact of artificial intelligence.
"Things that connected the world at one time are today being weaponised,” Modi said. "In a world filled with uncertainty, India offers the assurance of reliability and stability.”
Modi touted India as one of the world’s fastest growing major economies that has brought opportunities for global investors.
Hours ahead of Modi’s address, the International Monetary Fund raised its growth forecast for India to seven per cent for fiscal 2027, up from from 6.4 per cent projected in July. The IMF cited strong domestic demand and robust services activity, saying India’s economy remained resilient despite a surge in oil prices that has caused inflationary pressures and eroded the rupee.
Modi addressed the gathering of investors, executives and government officials in New Delhi against the backdrop of a wave of protests sweeping the Indian capital in recent days. A student-led movement has gathered to protest against a controversial overhaul of India’s voter rolls, while opposition politicians on Monday filed a petition seeking intervention from India’s top court.
Modi hasn’t commented on the protests and didn’t directly address the unrest in his remarks on Tuesday, instead referring to India as the "mother of democracy” that is home to a freewheeling media landscape.
"India has more than one hundred languages, nearly eighty thousand registered newspapers and publications, and more than one thousand satellite television channels,” he said. "In our country, people openly debate different issues, and citizens discuss diverse viewpoints.” - Bloomberg
