India Stays Steady Amid Global Energy Crisis, No Lockdowns or Rationing

At a time when much of the globe is grappling with the cascading effects of a conflict-triggered energy crisis, India appears relatively stable. The ongoing tensions involving the US, Israel, and Iran have sent shockwaves through global energy markets. Countries across continents are scrambling to respond to sudden shortages and rising prices of oil and gas -- a situation few would have imagined before February 28 happened.

The Gulf region, long considered the epicentre of global energy supply, is itself under strain. As disruptions ripple outward, governments worldwide are being forced into emergency measures.

And in the middle of this turbulence, India finds itself in a comparatively comfortable position. For a country of 140 crore people, the availability of petrol, diesel and piped natural gas (PNG) remains largely stable. There are concerns around LPG in some pockets, but much of it appears driven by panic buying and hoarding rather than any systemic shortage.

The situation gives a sense of pride and places India high up. During the Covid-19 pandemic, when many powerful nations turned inward, shutting borders and guarding resources, India stepped up -- both domestically and globally. Through the Vaccine Maitri initiative, it extended support to nearly 100 countries, reinforcing its role as a dependable partner in times of crisis.

Today's situation, though different in nature, once again highlights contrasts across countries. Several governments have had to take harsh measures that directly affect daily life.

Pakistan has sharply increased fuel prices, introduced work-from-home measures and shut educational institutions. Sri Lanka has cut down public lighting, reduced air-conditioning use in state offices and adopted a four-day work-from-home model. Bangladesh has enforced fuel rationing and closed universities. Vietnam has also moved to remote working. The Philippines has declared a national energy emergency.

Even developed economies are not immune. Australia is witnessing fuel shortages, with hundreds of service stations running dry, exacerbated by panic buying. Price increases and demand spikes are becoming common across markets.

Against this backdrop, India's position stands out. There has been no hike in petrol, diesel, or gas prices so far. Supplies remain available, and the government has maintained that the country has adequate reserves -- reportedly enough for over two months -- along with measures to boost domestic production and encourage alternatives such as PNG.

For ordinary Indians, this translates into a degree of normalcy that is increasingly rare elsewhere. Vehicles continue to run; fuel is accessible, and daily life remains largely unaffected. In contrast, even in the US, rising fuel prices have pushed up the overall cost of living, contributing to inflationary pressures.

Amid this, the political discourse at home has been far from measured. Criticism is an essential part of democracy, but there is a thin line between questioning the government and fuelling unnecessary anxiety.

West Bengal Chief Minister Mamata Banerjee raised concerns about a possible lockdown a day ahead of Prime Minister Narendra Modi's scheduled virtual meeting with the chief ministers to discuss the fuel situation amid the ongoing West Asia conflict on March 27. Lok Sabha LoP Rahul Gandhi warned of "compromised" energy security, attributing it to foreign policy failures. Akhilesh Yadav spoke of widespread LPG shortages.

These are serious claims, but they sit uneasily with the ground reality. When the crisis itself is global and largely beyond the control of any single government, the focus perhaps should be on constructive suggestions rather than amplifying fears.

The political heat may continue to rise, but on the ground, the picture remains steady. Roads are busy, fuel stations are functioning, pipelines are supplying gas, and households are managing their needs.

India has not stopped. The country is witnessing hectic political activity revolving around Assembly elections in four states and one union territory, and the inauguration of premier development projects, such as the Noida International Airport; the enthralling IPL tournament has also begun, international half-marathons are also being held in some states, and Dhurandhar continues to make a dream run.

For once, in a world under strain, India stands on relatively steady ground. The road ahead may not be without challenges if the Gulf conflict escalates, but this is hardly the time to panic. A measured response -- and some trust in the government's handling -- will serve better than alarmism.

(Deepika Bhan can be contacted at deepika.b@ians.in)

- IANS