India's Strategic Energy Policies Mitigate Global Crisis Impact
Prime Minister Modi Highlights India's Energy Resilience
On Saturday, Prime Minister Narendra Modi emphasized India's adept handling of a significant global energy crisis, attributing the success to proactive strategies, diverse fuel sourcing, and robust diplomatic relationships, all while minimizing the impact on citizens. This statement was made during the inauguration of a refinery in Pachpadra, Balotra district, where he also laid the groundwork for several development initiatives.
Modi noted that during the West Asia crisis, India's energy imports surged from approximately 25-26 countries to over 40, showcasing the effectiveness of the nation's diplomatic efforts. He acknowledged that oil companies faced losses exceeding Rs 75,000 crore between April and June due to escalating global prices, but the government took measures to alleviate the financial strain on citizens by reducing excise duty by Rs 10 per litre.
Addressing the challenges posed by misinformation and malicious intent, Modi remarked that those who wished for India's failure are now likely disheartened. He highlighted that India has risen to become the fourth-largest country in refining capacity and continues to grow.
Furthermore, he credited his administration's long-term strategies for navigating global disruptions in fuel and fertilizer supplies, particularly due to the ongoing conflict involving Iran and the US-Israel alliance. Modi asserted that the self-respect of individuals and nations is contingent upon self-reliance.
He also pointed out that the BJP government is committed to not just initiating projects but ensuring their timely completion. During the event, Modi inaugurated the nation's first greenfield integrated refinery-cum-petrochemical complex in Pachpadra, marking Rajasthan's first facility of this nature. The prime minister activated the project by pressing a remote button after inspecting the refinery complex, noting that progress on the refinery had stalled during the Congress-led government in Rajasthan from 2018 to 2023.