#WATCH | I would encourage our guests from abroad to experience India’s digital payments ecosystem. In India, a street vendor and a large car showroom may operate at different scales, yet both use the same digital payments ecosystem. This is the power of inclusive technology. India shares its capabilities with the Global South and partner countries, helping them develop digital systems suited to their needs. During the COVID-19 pandemic, India also created the open-source CoWIN platform. Our efforts aim to ensure that India’s capabilities open new doors of opportunity for other nations and empower humanity. The power of innovation lies in turning ideas into products and problems into solutions. When more people get access to these opportunities, the impact multiplies. India’s startup journey reflects this transformation, from just a few hundred startups before 2014 to over 250,000 today. Nearly half come from smaller cities and towns, while more than 45% have at least one woman director or partner. This wider access to innovation is bringing new talent and solutions to the forefront: PM @narendramodi #BloombergNewEconomy

#WATCH | You may have heard of the JAM Trinity and Direct Benefit Transfer (DBT). By leveraging technology, we have established a system that transfers government assistance directly into beneficiaries’ bank accounts. This has helped reduce corruption, improve convenience for citizens and create a direct link between the government and the people. This vision of “Power to Empower” is also reflected in India’s global engagement. During the COVID-19 pandemic, vaccine manufacturing capacity was crucial. The question was whether its benefits would remain limited to a few countries or reach those lacking the necessary resources. India chose to empower humanity, supplying vaccines to more than 100 countries and using its manufacturing capabilities to support others. Let me share another interesting example. A few months ago, India hosted the AI Impact Summit, which Bloomberg has also praised: PM @narendramodi #BloombergNewEconomy

#WATCH | Under the Paris Agreement on climate change, India made a major commitment in 2015 to achieve 40% of its installed electricity capacity from non-fossil fuel sources by 2030. India achieved this milestone in November 2021, nine years ahead of schedule, becoming the first G20 country to do so. This was not merely about fulfilling a commitment; it also marked a significant shift in India’s energy journey: PM @narendramodi #BloombergNewEconomy

#WATCH | In 2014, India’s renewable energy capacity stood at around 75 gigawatts. Today, it has reached nearly 300 gigawatts, meaning we have added almost four times the capacity. India’s energy transition is also creating new opportunities. We have initiatives such as PM Surya Ghar and PM-KUSUM. One is connecting households to solar power, while the other is empowering farmers to generate and use solar energy to reduce their input costs. Together, these two schemes have helped India achieve more than 30 gigawatts of solar capacity. They are also estimated to reduce carbon emissions by over 30 million tonnes every year. In this way, solar power is not only helping protect the environment but also empowering people: PM @narendramodi #BloombergNewEconomy

#WATCH | In the global race for power, India is following a different approach, and this decade bears witness to that. The third decade of the 21st century has brought unprecedented global challenges. Over the past six years, we have witnessed a global pandemic, followed by wars breaking out in different regions. As if that were not enough, disruptions have also emerged in trade, critical minerals and energy supplies. The world is still searching for a way out of one crisis when another emerges. Things that once connected the world are now being turned into weapons. Supply chains, energy, minerals, payments and technology are increasingly becoming instruments of pressure and dominance. We are witnessing how the routes created by globalisation over the past decades have turned into chokepoints. Amid all this, artificial intelligence is transforming the way work is done across every sector. At the same time, many countries are facing rapidly growing challenges associated with ageing populations. In this situation, a major question confronting the world today is that of trust. Trust that supplies will continue when they are needed. Trust that commitments made will be honoured: PM @narendramodi #BloombergNewEconomy

#WATCH | Mike Bloomberg praised PM @narendramodi's bold vision for India and his efforts to build global partnerships in trade, investment, technology, energy and manufacturing. @PMOIndia #BloombergNewEconomy