COVID was biggest crisis, West Asia situation another major challenge: PM Modi
Vadodara, May 11
Prime Minister Narendra Modi on Monday highlighted global instability and its direct impact on India's economy, particularly in relation to crude oil dependence and disrupted supply chains, while addressing a programme in Vadodara linked to Sardardham initiatives.
Referring to the current international situation, he said the world is passing through multiple overlapping crises.
"First the COVID-19 crisis, then global economic challenges, and now increasing tensions in West Asia," he stated, adding that these developments were affecting every country, including India.
He further said that if the COVID-19 pandemic was "the biggest crisis of this century," then the present situation in West Asia, marked by conflict, was among the major challenges of the current decade.
The Prime Minister emphasised that global supply chains had been significantly affected and that energy markets were under pressure.
"These disruptions were influencing prices and availability across sectors," he said.
Focusing on crude oil, he said India remains heavily dependent on imports. "India spends a huge amount of foreign exchange on importing crude oil," he said, pointing out that instability in oil-producing regions was creating additional pressure.
He added that such global uncertainties required citizens to adopt small but meaningful changes in consumption patterns.
"Until the situation becomes normal, we must all take small collective steps," he said.
He also urged greater use of public transport systems, Metro services, electric vehicles and carpooling, stating that reducing fuel consumption would help reduce pressure on foreign exchange reserves.
The Prime Minister further highlighted the role of digital technology in reducing travel needs, stating that virtual meetings and work-from-home practices should be encouraged wherever possible.
He concluded that individual actions, when combined at a national scale, could help India manage external economic pressures more effectively.
"We all have to be united as we have been before in other crises," he noted.
— IANS
Reader Comments
Exactly what needed to be said. We Indians always complain about prices but never think about how global events affect us. Digital meetings, work-from-home, public transport - all good suggestions if implemented properly. At least someone is thinking long-term instead of just giving freebies before elections. Small steps indeed.
Interesting perspective. As someone who works in supply chain management, I can confirm global disruptions are real. India's oil import dependency is a huge vulnerability. But I'm curious - why aren't we discussing accelerating renewable energy adoption more aggressively? That would reduce forex pressure naturally without asking consumers to change habits.
Very practical advice from PM. We in Vadodara have seen how Metro helps reduce traffic and fuel use. But the problem is public transport isn't good in smaller cities. First improve infrastructure, then ask people to use it. Still, message about unity is powerful - we faced COVID together, can face this too. 💪
Spent 2 hours in Pune traffic today, every other car was a SUV. Carpooling is a joke because nobody trusts strangers. Metro takes 45 mins instead of 20 mins by bike. Good intentions but reality is different. Maybe focus on making alternatives actually viable instead of just making announcements? That'll save more foreign exchange than any number of small steps.
Agree with everything except the work-from-home part. My company mandated return to office 6 months ago, saying productivity was down. How can we have work-from-home if private sector won't allow it? Government should lead by example first. But yes, West
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