New Delhi: Prime Minister Narendra Modi on Tuesday warned of “serious side effects” arising from the ongoing West Asia crisis and announced the formation of seven empowered groups to manage its economic and strategic impact.
Speaking in the Rajya Sabha, the Prime Minister said the groups—modelled on those constituted during the Covid-19 pandemic—will oversee a coordinated national response, focusing on supply chains, price stability, trade, exports and other key sectors.
Modi assured that India has adequate crude oil reserves and the capacity to ensure uninterrupted supply, even as global uncertainties persist. He noted that the country maintains around 53 lakh metric tonnes of strategic petroleum reserves and has significantly enhanced its refining capabilities.
Highlighting the broader implications of the crisis, the Prime Minister stressed that self-reliance would be the only viable path forward in an increasingly uncertain global environment. He said India’s past reforms and push towards domestic capacity-building were helping it withstand external shocks.
The Prime Minister also underlined that India is actively engaging with key global players, including Iran, United States and Israel, advocating dialogue and diplomacy as the only sustainable route to peace in the region.
He revealed that he had held two rounds of discussions with Gulf leaders to ensure the safety of nearly one crore Indians living in the affected regions.
Addressing concerns over agriculture, Modi assured that sufficient fertiliser stocks are available for the upcoming kharif season and that additional supplies are being procured to avoid disruptions.
The Prime Minister also highlighted India’s push for greater self-reliance in sectors such as shipbuilding and pharmaceuticals, particularly in reducing dependence on imported active pharmaceutical ingredients (APIs).
Calling for collective action, Modi said both the Centre and states must work together as “Team India” to tackle the challenges, drawing parallels with the coordinated response seen during the Covid-19 pandemic.
