Prime Minister Narendra Modi has issued a stark warning to the Rajya Sabha, saying that the crisis, which has been going on for the last three weeks in West Asia, has "sent shockwaves through the global economy, which could take years to subside." In his speech to the Upper House of Parliament on Tuesday, the Prime Minister cautioned that the crisis was not a regional conflict but a "systemic threat to international trade routes and energy security, which could have serious consequences for countries all over the world."
For India, the anxiety is felt most acutely at the petrol pump and on the farm. The Prime Minister noted that the routine supply of petrol, diesel, gas, and fertilisers has already been hit as key maritime corridors became increasingly treacherous. He made a specific point of highlighting the standoff in the Strait of Hormuz, where numerous global vessels — many manned by Indian crew members — remain stranded. "Our aim is de-escalation and the reopening of the Strait," he told the House, confirming that New Delhi is in constant diplomatic contact with leadership in Tehran, Tel Aviv, and Washington to push for a peaceful resolution.
Closer to home, the Prime Minister urged a "Team India" spirit reminiscent of the pandemic response, calling on state governments to clamp down on black marketing and the hoarding of essential goods. Although he admitted that "this is a crisis of a different kind and therefore requires a different kind of solution," he also aimed to alleviate the worries of the public that the economic fundamentals of the country are sound. He also revealed that the strategic oil reserves of India stand at 53 lakh metric tonnes, and plans to increase it to over double the amount are already in place.
The safety of the nearly one crore Indians living and working in the Gulf remains the government’s "top priority." Since the outbreak of hostilities, more than 375,000 citizens have been successfully repatriated, including hundreds of medical students who were stuck in Iran. Ultimately, the Prime Minister framed the crisis as a turning point for national strategy, arguing that in a world where trade routes can vanish overnight, India has "no other option" but to accelerate its journey towards total self-reliance.
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