Prime Minister Modi to Address Lok Sabha on West Asia Conflict
Prime Minister's Address and High-Level Meeting
New Delhi, March 23: At 2 p.m. on Monday, Prime Minister Narendra Modi is set to speak in the Lok Sabha, addressing significant issues related to the ongoing conflict in West Asia.
On Sunday, PM Modi led a crucial meeting to assess the situation in the petroleum, crude oil, gas, power, and fertiliser sectors, aiming to ensure a steady supply and stable distribution amidst the escalating crisis in West Asia.
The discussions centered on maintaining a consistent supply, ensuring reliable logistics, and optimizing distribution networks nationwide to avert any interruptions in essential services.
During the meeting, officials updated the Prime Minister on the current fuel availability and the measures being implemented to protect India's energy security.
Sources indicate that the government is vigilantly tracking global developments and has initiated proactive strategies to shield consumers and industries from fluctuations in international markets.
Efforts are being made to sustain sufficient reserves and bolster supply chains in light of increasing geopolitical tensions.
This review occurs as global energy markets remain unsettled due to the ongoing conflict in West Asia, a region vital for global oil and gas supplies.
Concerns have been raised regarding potential disruptions in critical shipping routes, especially the Strait of Hormuz, which is responsible for a substantial portion of global energy trade.
Just a day prior, Prime Minister Modi engaged in discussions with Iran's President Masoud Pezeshkian, focusing on the regional situation and stressing the importance of peace and stability.
He highlighted the necessity of keeping international shipping lanes secure, warning that any disruptions could adversely affect global supply chains.
To lessen reliance on the Middle East, India has diversified its oil and gas imports, increasing purchases from nations such as the United States, Russia, and African countries like Nigeria.
Officials noted that approximately 70 percent of India's oil imports now originate from sources outside the Gulf region.
The government has also intensified efforts to manage LPG supplies, including sourcing liquefied petroleum gas from the US to mitigate potential shortages.
While there are ongoing concerns regarding LPG availability, officials confirmed that there has been no disruption in supply at the consumer level, with a notable increase in online bookings.