By Prime Minister Narendra Modi on Monday sought to reassure the country that fuel and gas supplies remain stable despite growing disruptions caused by the ongoing Iran conflict, saying the government is taking all necessary steps to protect households and industries from shortages. Addressing the Lok Sabha, Modi acknowledged that the war in West Asia has created serious challenges for global energy markets but insisted that India is prepared to handle the situation.
His statement comes at a time when rising tensions in the Gulf region have started affecting global oil and liquefied natural gas supplies, pushing prices upward and creating uncertainty for major importers like India. Industries dependent on gas and petroleum products—ranging from fertiliser units to small manufacturing clusters and restaurants—have already begun feeling the pressure of supply fluctuations and higher costs.
Modi said the government’s priority is to ensure that ordinary families do not face difficulties in accessing petrol, diesel, and cooking gas. He highlighted that India has built strategic oil reserves of around 5.3 million metric tons and is working to expand this capacity to 6.5 million metric tons to strengthen energy security. According to him, maintaining stable fuel availability and preventing panic in domestic markets remains a key focus of the administration.
The Prime Minister also expressed concern over disruptions to global shipping routes, particularly around the Strait of Hormuz, a critical energy corridor. He said attacks on commercial shipping and any attempts to block the route are unacceptable, adding that India is actively working to ensure the safe passage of its vessels in the region. Several Indian-flagged ships carrying liquefied petroleum gas have already crossed the route safely, while others continue to move under close monitoring.
Meanwhile, the Reserve Bank of India noted in its latest economic assessment that India’s strong foreign exchange reserves and improving economic fundamentals will help cushion the impact of global volatility. The central bank said that while the evolving geopolitical situation requires careful monitoring, India’s economy has become more resilient to external shocks over the years.
Modi also reassured farmers and consumers that the country has sufficient food stocks and that the government will continue to provide support where needed. He emphasised that economic stability, energy diversification, and proactive diplomacy are being used together to minimise the impact of the conflict on India’s growth.
As global uncertainty continues, the government’s message is clear: India is watching the situation closely and preparing for every possible scenario to keep essential supplies and economic stability intact.
