India Taps Multiple Sources for Oil and Gas Amid Global Uncertainty: PM Modi

Prime Minister Narendra Modi on Tuesday assured that India is actively securing crude oil and natural gas from a wide range of global suppliers to maintain energy stability, as geopolitical tensions in West Asia continue to threaten international fuel markets. Speaking in Parliament, Modi emphasized that the government is pursuing a strategy of diversification to reduce dependence on any single region for energy imports. The move comes at a time when disruptions in key maritime routes, particularly the strategically crucial Strait of Hormuz, have raised concerns over potential supply bottlenecks and rising fuel prices worldwide.

Highlighting India’s preparedness, the Prime Minister stated that the country has adequate reserves of crude oil and is equipped to handle short-term disruptions. He noted that strategic petroleum reserves and well-planned contingency measures are in place to ensure that domestic fuel demand continues to be met without interruption. According to him, these proactive steps are aimed at shielding consumers and the broader economy from global volatility.

Modi also underlined that the government is closely monitoring the situation and remains committed to ensuring that essential commodities, including fuel, remain available at stable prices. Authorities have been directed to prevent hoarding and speculative practices that could create artificial shortages or price spikes in the domestic market.

In addition to securing supplies, India has been advocating for diplomatic efforts to ease tensions in the conflict-hit regions. The Prime Minister reiterated the country’s support for de-escalation and stability, stressing that peace in energy-producing regions is critical not only for India but for the global economy as a whole.

India, which relies heavily on imports to meet its energy needs, has in recent years expanded its supplier base to include countries across different regions. This diversification strategy has helped the country remain resilient during previous global crises and continues to be a key pillar of its energy policy. As uncertainty persists in international markets, the government’s approach reflects a dual focus on immediate preparedness and long-term resilience. By sourcing oil and gas from “all possible avenues” and maintaining sufficient reserves, India aims to safeguard its energy security while navigating an increasingly unpredictable global landscape.