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Prime Minister Narendra Modi on Monday underlined the growing impact of global instability on India’s economy while addressing a programme associated with Sardardham initiatives in Vadodara. He stated that consecutive international crises had disrupted economies, strained supply chains and intensified pressure on energy markets worldwide.
Referring to recent global developments, the Prime Minister remarked that the world continues to confront overlapping emergencies. He described the COVID-19 pandemic as the ‘biggest crisis of this century’ and identified the ongoing conflict in West Asia as another defining challenge of the current decade.
PM Modi explained that international disruptions had directly affected supply chains and commodity availability across several sectors. He emphasised that uncertainty in oil-producing regions had significantly increased economic pressure on countries dependent on imported energy resources.
India, the Prime Minister noted, spends substantial foreign exchange reserves on crude oil imports. He warned that instability in global energy markets could intensify inflationary concerns and place additional burdens on the national economy.
The Prime Minister urged citizens to adopt practical and disciplined consumption habits until global conditions stabilise. He encouraged wider use of public transportation systems, Metro services, electric vehicles and carpooling to reduce fuel dependency and lower pressure on foreign exchange reserves.
PM Modi also highlighted the importance of digital technology in limiting unnecessary travel. He advocated greater use of virtual meetings and work-from-home arrangements wherever feasible to reduce operational costs and conserve resources.
Addressing the gathering, the Prime Minister said small individual efforts could collectively strengthen India’s economic resilience during uncertain times.
“We all have to be united as we have been before in other crises,” he noted.
The Prime Minister asserted that coordinated public participation and responsible consumption would help India navigate international economic challenges more effectively while safeguarding long-term national stability.
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