Prime Minister Warns of Economic Pressure From Global Conflict
Indian Prime Minister Narendra Modi on Monday appealed to citizens to reduce fuel consumption, avoid non-essential overseas travel and even curb gold purchases for the next year, as he warned that the ongoing conflict in the Middle East was placing increasing pressure on the economy and disrupting global energy supply chains.
“Because of the war, the prices of petrol, diesel, gas, and fertiliser have increased. They have even crossed the sky,” Modi said during a BJP event in Telangana, adding that India, which relies heavily on imported energy, was particularly vulnerable to rising costs.
“India is moving towards rapid development. But at the same time, India is also facing many great challenges. Friends, during the pandemic, the world was in great trouble due to the supply chain crisis. The war broke out in Ukraine after COVID-19. It increased the world’s problems. Food, fuel, fertiliser, these three things were severely affected. In the past 5-6 years, our government has been continuously trying to deal with this crisis.”
Modi Encourages Fuel Conservation and Remote Work
Modi called on Indians to adopt measures to conserve fuel and foreign currency reserves.
“We will have to reduce the use of petrol and diesel. Wherever there is metro, we will have to use only metro. If it is necessary to go by car, then we will try to adopt car pooling and take more people in the car. If we have to send goods, then we will have to send them via railway services. So that due to being an electric railway, petrol and diesel are not needed,” he said.
The PM also encouraged businesses to revive remote working practices introduced during the coronavirus pandemic, noting, “Work from home, online conferences, virtual meetings, we have to give them priority again.”
Citizens Asked to Limit Gold Purchases and Foreign Travel
In a further appeal for economic restraint, Modi urged citizens to reduce spending on gold jewellery for one year, arguing that cutting imports would help preserve foreign exchange reserves.
“For the benefit of the country, we have to decide that we will not buy gold jewellery for a year for any function at home and for any occasion in the family. We will not buy gold,” he said.
In India, purchasing gold is far more than a financial investment; it is a sacred wedding tradition that serves as a vital safeguard for a bride’s personal wealth and long-term security, as well as symbolising purity and prosperity.
He also called on middle-class families to reconsider foreign holidays and destination weddings for at least a year, saying domestic tourism should be prioritised instead.
Modi’s speech comes amid a sharp rise in global crude oil prices due to disruptions around the Strait of Hormuz, one of the world’s most critical oil shipping routes, after the US and Israel first launched their attack on Iran on February 28.
Article by Viory
