“Reforms Are Our Conviction”: PM Modi Cites India’s 7.8% Growth at Bloomberg Forum

Prime Minister Narendra Modi highlighted India’s economic growth, financial strength and reform agenda while addressing the Bloomberg New Economy Forum in Delhi. Calling reforms a matter of conviction rather than compulsion, Modi said India offers reliability and stability amid global uncertainty. He cited 7.8% GDP growth in the April-June quarter and foreign exchange reserves exceeding $700 billion as indicators of the country’s economic strength. Modi also pointed to India’s banking system and improving sovereign ratings, saying the country’s confidence was at an unprecedented level. He added that India’s reform process was moving ahead at a rapid pace.