“Power To Empower”: PM Modi Says Tech Must Reach More People, Cites UPI and Startups

Prime Minister Narendra Modi said on Tuesday that he had come to the Bloomberg New Economy Forum with a vision of “power to empower”. He said the real question is not who holds power but how it is used to benefit people.

Addressing the forum, Modi said technology, data, knowledge and innovation have become sources of power. He stressed that they must be used to create opportunities for millions rather than remain concentrated among a few.

“Will technology only be beneficial for a few people or will create opportunities for crores of people?” he asked.

A SHIFT IN THINKING

The Prime Minister said this approach calls for a change in priorities: empowerment over control, cooperation over competition, and helping others succeed over individual success.

He said the idea was not new to India, pointing to a tradition that has long stressed the responsible use of knowledge, wealth and power. “The real value of power lies in its purpose,” he said, adding that India has applied this philosophy in its governance and work culture.

Welcoming the decision to hold the forum in India for the first time, Modi said Bloomberg founder Michael Bloomberg had chosen “the right place at the right time”.

DIGITAL INCLUSION

Citing India’s digital payments system, Modi said businesses of very different sizes use the same platform. A street vendor and a car showroom operate at different scales, he said, but both use it. “This is the power of inclusive technology,” he said. He invited foreign delegates to try the system themselves.

He also described India as the “Mother of Democracy” and pointed to its openness to different views.

According to the Prime Minister, India has over 100 languages, around 80,000 registered newspapers and publications, and more than 1,000 satellite television channels. He said the country has over 500 million users each on YouTube and Instagram, and that digital platforms help people debate issues openly.

STARTUPS AND PUBLIC INFRASTRUCTURE

Modi said the number of startups in India has grown from a few hundred before 2014 to more than 2.5 lakh. Nearly half, he said, come from small cities and towns, and 45 per cent have a woman director or partner.

“Opportunities for innovation are reaching more people, and more talents are emerging,” he said.

He said India is sharing its experience with Digital Public Infrastructure (DPI) with other countries so they can build systems suited to their own needs. He recalled that India developed the CoWIN platform as an open-source system during the COVID-19 pandemic. “Our capabilities should empower humanity,” he said.

The Prime Minister also said technology has allowed government assistance to be transferred directly into beneficiaries’ bank accounts. This, he said, has reduced corruption, made things easier for citizens and created a direct link between the government and the people.

"WE GROW WITH THE WORLD"

Modi said India is at a defining moment in its journey and is no longer only a destination for investment but a trusted partner in shaping the global future. He said that in its pursuit of Viksit Bharat, India is working to build one of the world’s most reliable growth engines and a balanced global economic order. “We do not grow at anyone’s cost,” he said. “We grow with the world and for the world.”

He said participants would get to experience the energy of a nation that is “not just participating in the new economy, but actively defining it”.

The eighth edition of the Bloomberg New Economy Forum, hosted in India, brings together more than 500 leaders from the public and private sectors. Its theme is “A World in Play: Defining the New Levers of Power”.

Delegates are examining the changing state of geopolitics, the risks and opportunities of this period of uncertainty, and a roadmap toward future prosperity.

With inputs from ANI