Prime Minister Narendra Modi warned that the ongoing West Asia crisis has shaken the global economy and could take a long time to recover, cautioning that prolonged conflict may trigger serious consequences worldwide.
Addressing the Rajya Sabha on Tuesday, PM Modi said the war, now over three weeks old, has already caused a major energy crisis and disrupted key trade routes.
“This war has created a serious fuel issue in the world. For India, too, this situation is concerning. The war has impacted our trade routes. With this, the routine supply of petrol, diesel, gas and fertilisers has been affected,” he said.
PM Modi assured that the government is closely tracking the rapidly changing situation and taking continuous steps to limit its impact on India.
“Our economy’s fundamentals are strong. The government is keeping a close watch on every changing situation and taking decisions with full seriousness,” he said.
He added, “This crisis is of a different kind and its solutions are also being worked out differently. We have to face every challenge with patience, restraint and a calm mind.”
WARNING OF PROLONGED IMPACT
PM Modi cautioned that the effects of the conflict could be long-lasting.
“The adverse impact of this war is likely to remain for a long time,” he said, while assuring citizens that the government is “alert, prepared and working with full seriousness” to safeguard national interests.
CALL FOR STATES TO ACT, AVOID SHORTAGES
The Prime Minister urged states to act swiftly against black marketing and hoarding of essential commodities and to take proactive steps for the poor and migrant workers.
He recalled the coordinated response during the Covid period, calling for a similar “Team India” approach in the current crisis.
“Strict action should be taken at the earliest to ensure smooth supply of essential commodities,” he said.
ENERGY, SHIPPING CONCERNS INTENSIFY
The Prime Minister flagged the situation in the Strait of Hormuz as a major concern, with many global ships stranded and Indian crew members on board.
“Many ships from around the world are stranded in the Strait of Hormuz, and a large number of Indian crew members are on board them,” he said.
He added that India is working through diplomacy to ensure safe movement of its vessels and to push for de-escalation.
“Our aim is de-escalation and opening of the Strait of Hormuz,” Modi said.
SAFETY OF INDIANS TOP PRIORITY
With nearly one crore Indians living and working in Gulf countries, Modi said their safety remains a key concern.
“In times of crisis, the safety of Indians both in the country and abroad is our top priority,” he said.
He added that more than 3,75,000 Indians have returned safely since the war began, including over 1,000 from Iran, among them 700 medical students.
PUSH FOR DIPLOMACY, GLOBAL OUTREACH
PM Modi said India has remained in constant contact with countries across the region, including Iran, Israel and the US, while pushing for a peaceful resolution.
“Any threat to human life in this war is not in the interest of humanity. India is making constant efforts to encourage all sides to reach a peaceful solution,” he said.
He also revealed that he had spoken with several world leaders in recent weeks to discuss the crisis.
STEPS TO SECURE SUPPLIES, BOOST SELF-RELIANCE
The government is working to secure energy supplies from multiple sources to deal with disruptions.
“We are trying to procure gas and crude oil from all possible sources. Efforts will continue in the coming days,” Modi said.
He added that India has built strategic oil reserves of 53 lakh metric tonnes over the past 11 years, with work underway to expand capacity by another 65 lakh metric tonnes.
Modi also pointed to a Rs 70,000 crore shipbuilding project and stressed the need for self-reliance.
“There is no other option for India but to become self-reliant,” he said.