Government Forms Groups to Address Energy Crisis Amid West Asia Conflict
Prime Minister Modi's Response to Global Energy Crisis
On March 24, Prime Minister Narendra Modi announced the establishment of seven empowered groups aimed at developing strategies to manage the repercussions of the ongoing crisis in West Asia. This initiative was shared during a statement in the Rajya Sabha.
Modi highlighted that these groups are similar to those formed during the COVID-19 pandemic to tackle specific sectoral issues. The newly constituted groups will focus on critical areas such as supply chains, petroleum products, fertilizers, natural gas, and inflation.
"I am confident that through these collaborative efforts, we will effectively navigate the current challenges," Modi stated.
He pointed out that the ongoing conflict has led to a significant global energy crisis and cautioned against opportunistic behaviors, urging state governments to combat black marketing and hoarding.
In light of the evolving situation, he encouraged citizens to stay prepared for any challenges that may arise.
The Prime Minister assured that the government is actively seeking gas and crude oil from all possible sources, with ongoing efforts to ensure a steady supply of fertilizers.
"We are implementing a comprehensive strategy to tackle every facet of this crisis, considering its short, medium, and long-term effects," he emphasized.
Additionally, he mentioned the formation of an inter-ministerial group that regularly evaluates challenges in import-export operations and works on necessary solutions.
Recognizing the unique nature of the West Asia crisis, Modi stated that solutions are being tailored accordingly. "We must face every challenge with patience, restraint, and a calm demeanor," he advised.
He reiterated India's goal of de-escalating the conflict and ensuring the opening of the Strait of Hormuz, advocating for peaceful resolutions to all disputes.
Regarding energy security, Modi noted that over the past 11 years, India has established strategic oil reserves totaling 53 lakh MT, with plans for an additional capacity of 65 lakh MT currently in progress.