New Delhi: Prime Minister Narendra Modi said India views economic reforms as a matter of conviction rather than compulsion while addressing the Bloomberg New Economy Forum. He highlighted the country’s economic growth, foreign exchange reserves and banking system, saying these strengths provide confidence and stability amid global uncertainties.

India Offers Stability Amid Global Uncertainty

Addressing the forum, PM Modi said India offers reliability and stability in a world facing uncertainty. He pointed to the country’s reported growth rate of 7.8% in the April–June quarter, describing it as growth supported by a strong economic foundation.

His remarks highlighted India’s efforts to position itself as a stable and reliable economy amid changing global conditions.

PM Modi Highlights Forex Reserves and Banking Strength

The Prime Minister also highlighted India’s foreign exchange reserves, which he said exceed $700 billion. He described the country’s banking system as one of its key strengths.

According to Modi, these economic fundamentals have contributed to upgrades in India’s sovereign ratings. He also said the country’s confidence was at an unprecedented level.

‘Reforms Are Our Conviction’

Emphasising the government’s reform agenda, PM Modi said India’s reform process was moving forward rapidly.

“For us, reforms are not a compulsion, they are our conviction,” he said.

The statement underlined the government’s emphasis on continuing reforms as part of its broader economic approach. Modi’s address connected the country’s growth performance and financial indicators with its aim of maintaining stability and confidence in the global economy.