Hyderabad: Amid global energy supply disruption, Prime Minister Narendra Modi on Sunday urged people to use public transport and revive work from home to reduce dependence on petrol and diesel — which largely come from imported crude — and conserve foreign exchange by avoiding overseas weddings and vacations as well as unnecessary gold purchases.
PM's Drastic Call Amid Energy Crisis
The suggestions, seen as the most drastic call by PM, at a public meeting at Parade Ground in the city, come as the blockade of the Strait of Hormuz nears 75 days with the government tapping multiple sources to procure oil and gas, whose supplies have been hit, pushing up crude prices for Indian refiners for the third straight month. So far, oil companies have not raised pump prices but are expected to do so over the next few days.
Trade Deficit and Foreign Exchange Concerns
In recent months, high energy and gold and silver prices have pushed up India's trade deficit as export growth has also moderated. Modi asked people to avoid non-essential gold purchases for a year and put off unnecessary foreign travel, and called for bringing back Covid-era efficiency measures such as WFH arrangements in national interest. He also urged businesses to opt for moving goods by rail, and asked individuals to avoid unnecessary travel and car pool and use EVs.
"If we make a few small changes for a year, we can save substantial foreign exchange," he said. PM invoked patriotism to argue that it is not just about one's life for the country but also about living responsibly and fulfilling duties towards the country during difficult times. He called for collective participation to help India face global economic disruptions, supply chain challenges and rising prices caused by international conflicts.
"Today, the need of the hour is to use petrol, gas, diesel and similar resources with restraint. We must use imported petroleum products only as needed. This will not only save foreign exchange but also reduce the adverse impact of war," he said.
India's Crude Import Dependence
India imports nearly 90% of its crude requirement as domestic output has been shrinking. PM said his government initially focused on achieving universal LPG coverage for the poor and was now expanding affordable piped gas connections across the country. "By using these resources wisely, we can save significant foreign exchange over the next year. Our government is working tirelessly to navigate these challenges. In other countries, a bag of urea costs around Rs 3,000, but our farmers are getting it for just Rs 300," he added.
Appeal for Make in India and Energy Efficiency
Modi also asked people to support 'Make in India' products and choose Indian alternatives for everyday items such as toothpaste and pitched for the use of electric vehicles and solar-powered pumps as an alternative to diesel-operated ones. In another suggestion, Modi proposed reducing cooking oil consumption by 50%, which, he remarked, would also improve health.
