PM Modi warns of "unprecedented challenge" as Gulf conflict hits Indian imports

NEW DELHI: Prime Minister Narendra Modi has stated that the conflict in the Middle East poses a significant challenge to the global economy. Speaking in Parliament, the Prime Minister noted that attacks in the Gulf region have created a worrying situation, particularly as India relies heavily on the region for crude oil and gas imports. This statement follows a high-level meeting of the Cabinet Committee on Security and key ministers held this past Sunday.

"More than one crore Indians reside in the conflict zone. While approximately three lakh have already returned, we have unfortunately lost a few Indian lives. India is facing an unprecedented challenge," the Prime Minister said. He emphasized that he remains in constant contact with various Middle Eastern heads of state to ensure the safety of Indian workers and tourists, asserting that "the safety of Indians, both at home and abroad, is the government's first priority."

The Prime Minister further highlighted the crisis in the Strait of Hormuz. Prior to the conflict, this route facilitated the import of 1.34 million barrels of oil per day to India. He assured the nation that the government is taking exhaustive measures to prevent disruptions to the energy supply.

"With 60 percent of our petroleum products being imported, the crisis in the Strait of Hormuz is significant. Due to the current LPG shortage, cylinders are being prioritized for domestic household use. We have also ramped up domestic LPG production and are utilizing our strategic petroleum reserves," the Prime Minister explained. He added that India is in talks with oil producers across 41 countries to diversify supply. While affirming that India is pursuing peace through diplomatic channels, he stressed that "attacks on commercial ships and the disruption of traffic through the Strait of Hormuz are unacceptable."