Monday, Narendra Modi emphasized the enhanced energy security of India by giving a speech to Parliament, mentioning that during the last several years India has diversified its sources of imports greatly. In the current budget session in the Lok Sabha, he observed that India today buys crude oil, LPG, and PNG of 41 countries as opposed to 27 years ago.
The Prime Minister stressed that this diversification is one of the wider plans to maintain supply of energy without disruption even in the face of uncertainties in the world especially considering the current tensions in West Asia. He promised that the government is closely keeping a watch on the situation and that it has made measures to reduce disruption to supply chains and essential commodities as well as the economy in general.
Modi once again asserted that consistent supply of petrol, diesel and cooking gas should be among the priorities. He indicated that India is now well endowed with coal deposits that can guarantee constant power supply in the country. In response to issues on LPG supply, he indicated that with India importing about 60% of its LPG requirement, the government is making effort to increase its production and focus on household consumers.
There was also warning of misinformation and black marketing warned by the Prime Minister, and he said that he has taken strict measures against people who tried to take advantage of the situation. He advised the state governments to be more alert and not to allocate the much-needed resources unequally.
Secondly, Modi pointed out that the government is concerned with the security of Indian citizens overseas and that Indian missions in the affected areas are offering such services as and when required. Generally, he emphasized that India is ready to tackle the challenge of the world and at the same time protect its energy and economic stability.