New Delhi — Prime Minister Narendra Modi told reporters that India “successfully navigated” the recent disruptions to oil shipments through the Strait of Hormuz, adding that the country’s expanded energy imports shielded consumers from sharp price spikes.
Modi said the government’s pre‑emptive measures, including diversifying oil sources and boosting strategic reserves, allowed India to absorb the impact of the “Iran‑U.S. war” and broader Middle‑East turbulence without passing a heavy cost onto citizens. He highlighted that India’s oil imports rose sharply during the crisis, a move he said was intended to “ensure uninterrupted supply and keep fuel prices stable for the common man.”
The comments came as global oil markets reacted to heightened tensions in the Gulf, where several incidents in the past weeks threatened the flow of crude through the Hormuz Strait, a chokepoint that handles roughly a third of the world’s petroleum shipments.
Analysis:
Modi’s remarks underscore a broader strategy by New Delhi to reduce vulnerability to external supply shocks. Over the past year, India has increased its crude oil imports from alternative suppliers such as the United States, Brazil and African nations, while also expanding its strategic petroleum reserve capacity. By securing additional volumes ahead of the crisis, the government likely averted the need for emergency fuel price adjustments that have historically burdened households during supply disruptions.
The prime minister’s statements also serve a domestic political purpose, reinforcing the narrative that his administration is proactive in safeguarding economic stability amid volatile global markets. While the increase in import volumes suggests higher foreign exchange outlays, the trade‑off appears to be a deliberate choice to prevent inflationary pressures on fuel and related commodities.
Observers note that the effectiveness of India’s approach will depend on sustained diversification of supply lines and the ability to manage the fiscal impact of higher import bills, especially as the country continues to grapple with a widening current‑account deficit.
Sources: NDTV, “India navigated Hormuz crises with minimal burden on citizens: PM Modi,” https://www.ndtv.com/india-news/india-navigated-hormuz-crises-with-minimal-burden-on-citizens-pm-modi-iran-us-war-middle-east-crisis-global-oil-prices-energy-crisis-11726154#publisher=newsstand
Story synopsis gathered from: NDTV – India News — source
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