Power to Empower: PM Modi's Bloomberg New Economy Forum Address | UPSC Current Affairs

UPSC-REV | 14 October 2026 | International relations, economy and governance

On 13 October 2026, Prime Minister Narendra Modi addressed the Bloomberg New Economy Forum in New Delhi. According to the PM, this was the first time the Forum was held in India. The PIB text is an English rendering of an address originally delivered in Hindi.

The central idea: "Power to Empower"

The PM argued that technology, data, knowledge and innovation are forms of power in this decade, and that the real question is how that power is used. He framed India's approach as moving from power to control towards power to enable, from competing towards collaborating, and from succeeding towards helping others succeed.

Examples cited in the address

Theme	What the PM said (as per PIB)
Digital access	Affordable mobile data and digital payments are described as inclusive technology
Global South	India shares Digital Public Infrastructure experience; CoWIN was open source
Startups	More than 2,50,000 startups, nearly half from small cities and towns
Welfare delivery	JAM Trinity and Direct Benefit Transfer cited
Health diplomacy	Vaccines supplied to more than 100 countries during COVID
Energy transition	40% non-fossil capacity target met in November 2021; renewable capacity from about 75 GW (2014) to about 300 GW
Solar schemes	PM Surya Ghar and PM-KUSUM together credited with more than 30 GW solar capacity
Macro indicators	April-June 2026 growth 7.8%; current account deficit 0.61% of GDP last year; forex reserves above USD 700 billion
Reforms	GST, Insolvency Law, four labour codes replacing 29 laws

These are figures stated by the PM in a speech. For answers, attribute them to the address rather than treating them as independently audited.

India's global platforms named

The PM listed the International Solar Alliance, Coalition for Disaster Resilient Infrastructure, Big Cat Alliance, Global Biofuel Alliance, India-Middle East-Europe Economic Corridor (IMEC) and Mission LiFE. He also referred to One Sun, One World, One Grid; One Earth, One Family, One Future; and One Earth, One Health.

He described a world where supply chains, energy, minerals, payment systems and technology are increasingly used as instruments of pressure, and positioned India as a stable, reliable partner.

Why it matters for UPSC

• GS2: India's role in multilateral and plurilateral platforms, Global South outreach, soft power and DPI diplomacy.
• GS3: Economic stability indicators, renewable energy transition, startups, reforms, supply-chain resilience.
• Essay and ethics: The use of power for public purpose, and the tension between competition and cooperation.

Mains angle

Question: "India presents itself as a provider of public goods to the Global South." Discuss with examples. Structure: DPI and CoWIN, vaccines, ISA and CDRI, then limits such as capacity constraints and the need for reciprocal partner ownership.

Quick revision

• Event: Bloomberg New Economy Forum, New Delhi, 13 October 2026.
• Theme: Power to Empower.
• Platforms: ISA, CDRI, Big Cat Alliance, Global Biofuel Alliance, IMEC, Mission LiFE.
• Caution: figures are as stated in the PM's address.

Official source

PIB: English rendering of PM's address at the Bloomberg New Economy Forum

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