India Well-Prepared on Energy Front: PM Modi Assures Adequate Oil Reserves Amid Global Tensions

New Delhi | March 23, 2026 Prime Minister Narendra Modi on Monday assured that India remains well-prepared to handle any potential fuel supply disruptions, stating that the country currently holds over 53 lakh metric tonnes of oil in its strategic petroleum reserves. Addressing the Lok Sabha, he said the government is actively working to expand storage capacity further and is in constant contact with multiple countries to ensure uninterrupted supply of oil and gas. Highlighting the challenges arising from the ongoing tensions in West Asia, the Prime Minister said India is closely monitoring shipping routes, particularly near the Strait of Hormuz, to ensure safe movement of essential goods such as crude oil, gas, and fertilisers. He emphasised that the government is taking all necessary steps to minimise the impact of the crisis on the domestic economy and ensure that farmers and citizens are not burdened by global uncertainties. PM Modi noted that India imports a significant portion of its energy needs, including around 60 percent of LPG, making the situation concerning. However, he said measures such as prioritising domestic LPG supply, increasing local production, and improving refining capacity are helping maintain stability. He also highlighted long-term efforts like ethanol blending, which has reduced dependence on imported oil. Calling for unity and preparedness, the Prime Minister said the global situation may have long-term economic and security implications. He reiterated India’s commitment to diplomacy and peaceful resolution, adding that the government is continuously working through coordinated efforts, including an inter-ministerial group and 24×7 monitoring systems, to safeguard national interests and ensure the well-being of Indian citizens both at home and abroad. India Well-Prepared on Energy Front: PM Modi Assures Adequate Oil Reserves Amid Global Tensions Prime Minister Narendra Modi on Monday assured that India remains well-prepared to handle any potential fuel supply disruptions, stating that the country currently holds over 53 lakh metric tonnes of oil in its strategic petroleum reserves. Addressing the Lok Sabha, he said the government is actively working to expand storage capacity further and is in constant contact with multiple countries to ensure uninterrupted supply of oil and gas. Highlighting the challenges arising from the ongoing tensions in West Asia, the Prime Minister said India is closely monitoring shipping routes, particularly near the Strait of Hormuz, to ensure safe movement of essential goods such as crude oil, gas, and fertilisers. He emphasised that the government is taking all necessary steps to minimise the impact of the crisis on the domestic economy and ensure that farmers and citizens are not burdened by global uncertainties. PM Modi noted that India imports a significant portion of its energy needs, including around 60 percent of LPG, making the situation concerning. However, he said measures such as prioritising domestic LPG supply, increasing local production, and improving refining capacity are helping maintain stability. He also highlighted long-term efforts like ethanol blending, which has reduced dependence on imported oil. Calling for unity and preparedness, the Prime Minister said the global situation may have long-term economic and security implications. He reiterated India’s commitment to diplomacy and peaceful resolution, adding that the government is continuously working through coordinated efforts, including an inter-ministerial group and 24×7 monitoring systems, to safeguard national interests and ensure the well-being of Indian citizens both at home and abroad.