New Delhi [India], October 13 (ANI): Prime Minister Narendra Modi on Tuesday said he had come to the Bloomberg New Economy Forum with the vision of "power to empower", emphasising that the real question was not who possessed power but how it was being utilised to benefit people. 

Addressing the forum, Modi said technology, data, knowledge and innovation had emerged as sources of power, and stressed the need to use them to create opportunities for millions of people.

Welcoming the decision to host the forum in India for the first time, the Prime Minister said Bloomberg founder Michael Bloomberg had chosen the right place at the right time. 

'Every year at this forum, we discuss economy, energy, etc. For the first time, it's been held in India. I'd like to say to Mr. Bloomberg that he has chosen the right place at the right time,' Modi said. 

Emphasising the need to ensure that the benefits of technological progress reach a wider section of society, the Prime Minister said the focus should be on how power could be used to empower people rather than remain concentrated among a few. 

'The right question is: how is this power being utilised? Will technology only be beneficial for a few people or will create opportunities for crores of people? Will knowledge remain the strength of a few people, or empower everyone?' he said.

PM Modi said the approach called for a shift in thinking, prioritising empowerment over control, cooperation over competition and helping others succeed over individual success.

'This seeds a new thinking - power to empower. Ahead of power to control, power to enable. Ahead of Power to compete, power to cooperate. Ahead of power to succeed, power of helping others to succeed,' he said.

The Prime Minister further said the idea of using knowledge, money and power for a larger purpose was not new to India, adding that the true value of power lay in how it was used.

'This is not new to India. We have always emphasised the importance of utilisation of knowledge, money, and power. The real value of power lies in its purpose,' PM Modi said.

'Whoever possesses knowledge, wealth, and power, how they use it is crucial. The true value of power lies in its purpose, and it's crucial to understand this philosophy in today's times... Our thousands of years of tradition have taught us this, and in India, we have demonstrated its application in our governance and work culture,' he added.

The eighth edition of the Bloomberg New Economy Forum (the "Forum"), hosted in India convenea more than 500 of the world's most influential public and private sector leaders. Under the theme "A World in Play: Defining the New Levers of Power," delegates will examine the changing state of geopolitics, identify the risks and opportunities presented by this period of uncertainty, exchange ideas and collaborate on a roadmap toward future prosperity.

Speaking about the Forum, PM Modi said, "Today, India stands at a defining moment in its journey. India is no longer just a destination for investment; it is a trusted partner in shaping the global future. In our pursuit of Viksit Bharat (Developed India), we are working to build one of the most reliable growth engines of the world and a balanced world economic order. In this context, it is pleasing to note that the Bloomberg New Economy Forum is going to be held in New Delhi in October 2026. The participants in this Forum will get an opportunity to experience the energy of a nation that is not just participating in the new economy, but actively defining it." (ANI)