Prime Minister Narendra Modi confirmed that India’s strategic petroleum reserves currently hold over 53 lakh tonnes of crude oil, reinforcing the country’s preparedness amid the ongoing global fuel crisis linked to tensions in West Asia. Modi highlighted these reserves during his recent parliamentary address, assuring that India is positioned to maintain an uninterrupted fuel supply despite international challenges, according to the Times of India.
In his address, Modi detailed a multi-pronged approach to enhance energy security, including the diversification of oil import sources across 41 countries and expanding domestic refining capacity. The government is also promoting alternative energy measures such as increased ethanol blending in fuels and accelerating railway electrification, as reported by Times of India and Hindustan Times.
To further safeguard supply chains, Modi chaired a cabinet meeting focused on securing essential commodities including food, fuel, and fertilizers. The session reviewed strategies to mitigate the impact of the West Asia conflict by diversifying imports and managing price volatility, according to Hindustan Times coverage.
Additionally, Modi emphasized ongoing diplomatic efforts to maintain peace and stability in the region, while the government continues regular communication with international suppliers to ensure continuity of oil and gas deliveries from multiple sources, the Hindustan Times reports.
Looking ahead, India’s energy policy will be closely watched as the global fuel crisis evolves and international tensions persist. How effectively India manages its diversified import relationships and the utilization of its strategic reserves could influence its long-term energy independence and economic stability.
Narendra Modi
India
West Asia
