Prime Minister Modi Urges Economic Measures Amid Middle East Crisis Impacting Oil Prices
Prime Minister Narendra Modi has called for a series of measures to mitigate the economic impact of the ongoing Middle East crisis, which has significantly disrupted global oil supply chains. Speaking in Hyderabad, Modi urged Indian citizens to conserve petrol and diesel by using public transport, car-pooling, and electric vehicles. He also recommended avoiding unnecessary foreign travel and non-essential gold purchases to preserve foreign exchange reserves. The prime minister emphasized the importance of reviving Covid-era efficiency measures such as working from home and virtual meetings. Additionally, Modi encouraged the use of Made-in-India products and urged farmers to reduce chemical fertilizer use by 50% in favor of solar-powered irrigation. These recommendations come as the Strait of Hormuz remains blocked due to conflict between US-Israel forces and Iran, leading to a spike in oil prices and affecting other imports.