NewzVille Desk
Defence Minister Rajnath Singh chaired 5th meeting of Informal Group of Ministers (IGoM) on West Asia in New Delhi to review the existing risks to energy supply chains and domestic availability of essential commodities in the wake of the conflict in West Asia.
Jagat Prakash Nadd, Hardeep Singh Puri, Ashwini Vaishnaw, Kiren Rijiju, Kinjarapu Rammohan Naidu, Sarbananda Sonowal, and Jitendra Singh attended the meeting.
The IGoM was informed that the country is secure, and there is no shortage of any petroleum product, even as most other nations have taken emergency measures to dramatically reduce domestic consumption. India has 60 days of crude oil, 60 days of Natural Gas and 45 days of LPG rolling stock.
The foreign exchange reserves stand at a comfortable $703 billion. India is the world’s third largest oil refiner and fourth largest exporter of petroleum products, exporting to over 150 countries and is meeting domestic demand in full.
But there is a huge cost being borne by the nation as international crude prices are continuing at very high levels. Fuel conservation can ease this burden.
Prime Minister Narendra Modi has urged people to act responsibly during global economic disruptions caused by international conflicts. Saving petroleum products, avoiding wasteful use, and adopting prudent consumption habits will help reduce pressure on the country’s finances both now and in the future.
The Ministers were informed that there is a surplus amount of essential commodities for the people and the present conservation is intended towards long-run capacity building if the crisis prolongs. The supply management has been good, and the people need not panic or resort to over purchase of fuel & other products.
Rajnath Singh directed the officials to take concrete steps to implement the Prime Minister’s appeal at the ground level.
He urged the people to remain calm and avoid any kind of panic as all concrete steps are being taken to prevent shortages or disruptions in supply chains.
The minister further added that Prime Minister’s appeal for collective participation of the people to help country face global challenges is going to be a significant step towards self-reliance and ensuring energy security.
