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‘Be prepared to face long-term impacts of West Asia war’: PM Modi in Parliament | Key points
Speaking in Parliament, the PM called the situation in West Asia "worrisome" and listed measures taken by the government to offset the negative impact on the world economy and people.
Prime Minister Narendra Modi speaks in the Lok Sabha during the second part of the Budget Session of Parliament. (Sansad TV via PTI Photo)
Exhorting Indians to be be “prepared to face the long-term impact of the West Asia war,” Prime Minister Narendra Monday addressed the Parliament during the ongoing Budget Session. He informed the House about the measures that the government has taken since the conflict in West Asia triggered a global energy crisis and called the situation “worrisome”.
Trade along the Strait of Hormuz – the conduit for a fifth of global energy supplies – came to a grinding halt after the conflict began on February 18.
Here are some key moments from his speech:
Situation in West Asia worrisome
PM Modi said that the situation in West Asia is worrisome and that the crisis created by the war has left a negative impact on the world economy and people. The war has set unprecedented challenges for India too, he noted.
Prioritised domestic production of LPG
Noting that 60 per cent of India’s LPG needs are met via imports, PM Modi said that New Delhi has prioritised domestic production of the fuel to ensure smooth supply in view of the conflict.
The Strait of Hormuz accounts for 90 per cent of India’s LPG imports.
Diversified energy imports to 41 countries
“India has, in the last 11 years, diversified imports of its energy needs. Today, we import energy from 41 countries as compared to 27 countries in the last decade,” he added.
India relies significantly on fuel imports to meet domestic demand – over 80 per cent of its crude oil, about 60 per cent of its LPG, and 50 per cent of its LNG are channeled through imports.
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Prior to the conflict, the Strait accounted for about half of India’s total oil imports, 60 per cent of its LNG imports, and a whopping 90 per cent for LPG.
Working on 6.5 mmt more petroleum reserves
Amid rising concerns of oil shortages owing to the blockade at the Strait, the Prime Minister informed the House that 5.3 million metric tons of strategic petroleum reserves and is working on adding 6.5 mmt more.
6 functional Urea manufacturing units set up
Prime Minister Narendra Modi said that India has made six functional Urea manufacturing units.
Gulf Cooperation Council (GCC) countries – Oman, Qatar, Saudi Arabi, United Arab Emirates (UAE) and Bahrain – whose shipments have been blocked since the war began, accounted for roughly 75 per cent of India’s urea imports during 2024-25.
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This year, India was expected to import nearly 10 million tonnes (mt) of urea, as against domestic production of 30 mt.
He also added that farmers have been awarded with PM KUSUM scheme to fulfill their diesel needs.
Aiming to increase power generation
Noting that the need for electricity will increase during summers, PM Modi said, “We are aiming to generate Rs 100 crore worth of coal to generate power. Our renewable coal energy is at 140 gW,” adding that all power plants have adequate coal reserves.
“Under Govardhan Yojana, rooftop solar panels have been installed in more than 40 lakh houses. The government is also considering encouraging nuclear power generation,” he said.
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Be prepared to face the long-term impact
PM Modi said, “India is focusing on security in all areas including coastal and cyber security. We have faced a similar situation during Covid era. Likewise, we must be prepared to face the long-term impact of the West Asia war.”
He also urged state governments to monitor complaints on black-marketing and unfair usage of essential commodities.
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