Prime Minister Narendra Modi on Tuesday said India is actively sourcing crude oil and natural gas from all available channels to safeguard the country’s energy needs, as the ongoing conflict in West Asia threatens to disrupt global supplies.
Addressing the Rajya Sabha, the Prime Minister described the situation in the region as “deeply concerning,” warning that a prolonged conflict could trigger serious consequences for the global economy and energy markets.
Push for Peace and Strategic Stability
Emphasising India’s diplomatic stance, Modi reiterated that New Delhi is advocating for de-escalation through dialogue and peaceful negotiations. He stressed the importance of restoring stability in key global energy routes, particularly the Strait of Hormuz, which remains critical for global oil shipments.
“India’s priority is peace and stability. We are encouraging all parties to resolve issues through diplomacy,” he said, underlining that uninterrupted maritime movement is essential for global energy security.
Government Strengthens Energy Security Measures
Highlighting long-term preparedness, the Prime Minister said that over the past 11 years, India has built strategic petroleum reserves of approximately 53 lakh metric tonnes. Additionally, work is underway to expand storage capacity by another 65 lakh metric tonnes.
He also pointed to a major ₹70,000-crore initiative aimed at boosting domestic shipbuilding capacity, which is expected to enhance India’s energy logistics and reduce dependence on foreign shipping.
Warning of Global Impact
- Modi cautioned that if the crisis in West Asia continues, the ripple effects could be severe, impacting fuel prices, supply chains, and economic stability worldwide.
With tensions still high, India’s dual approach—securing diversified energy supplies while pushing for diplomatic resolution—signals a proactive effort to navigate one of the most significant geopolitical challenges affecting global energy markets today.
