NEW DELHI, March 24: Prime Minister Narendra Modi told the Rajya Sabha on Tuesday that India has established seven empowered groups to tackle the economic challenges stemming from the crisis in West Asia. These groups, structured similarly to those used during the COVID-19 pandemic, are tasked with monitoring global supply chains and stabilizing the domestic market against price shocks.
Addressing concerns over fuel and resources, the Prime Minister affirmed that the country possesses enough crude supplies to ensure consistent delivery. He stated that the government’s proactive maintenance of strategic petroleum reserves serves as a vital shield for the economy. Furthermore, he noted that two rounds of discussions have already been held with Gulf leaders to ensure the safety of the approximately one crore Indians living in the affected region.
The Prime Minister declared that the current global situation reinforces the necessity of “Aatmanirbharta” or self-reliance. He pointed out that India is aggressively working to reduce its 90% dependence on foreign ships for trade through targeted industrial campaigns. He also maintained that India’s growing independence in pharmaceutical manufacturing is a key example of the nation’s shifting economic strategy.
Regarding the agricultural impact, the Prime Minister asserted that enough fertilizer has been procured to support farmers during the kharif season. He declared that diplomacy remains the only way to establish lasting peace and stated that India continues to engage with all major stakeholders in the conflict. Modi affirmed that the collective strength of the nation’s administrative framework will be utilized to navigate the ongoing international uncertainty.
