India's economic fundamentals strong; collective effort key to sustaining growth amid West Asia crisis: PM Modi
India's economic fundamentals strong; collective effort key to sustaining growth amid West Asia crisis: PM ModiIANS

Prime Minister Narendra Modi on Tuesday urged state governments to recognise that, regardless of the severity of the crisis, it is a "collective responsibility" to sustain India's rapid growth, even as global uncertainties rise due to the West Asia conflict.

Addressing the Rajya Sabha, the Prime Minister said the current situation presents both a challenge and an opportunity, calling it a "major test for Team India." He stressed that cooperation between the Centre and states is essential to navigate the evolving crisis.

"In the coming times, this crisis will test our country. To overcome it, cooperation from all states is necessary," he said, urging governments to work together in the spirit of unity.

Highlighting the impact of crises on vulnerable sections, Modi said the poor, labourers, and migrant workers are the most affected. He called for timely delivery of benefits under welfare schemes and urged states to establish systems to monitor and address challenges faced by migrants. He also warned against black marketing and hoarding, asking states to remain vigilant and act swiftly.

Recalling India's response during the Covid pandemic, he said the Centre and states had demonstrated an effective model of crisis management despite political differences, and urged continuation of the same collaborative approach.

Stressing the need for calm and preparedness, Modi said the current crisis is dynamic and could have long-term effects. "We must face every challenge with patience and restraint. The situation is changing every moment," he said, assuring citizens that the government is alert and prioritising public welfare.

India's economic fundamentals strong; collective effort key to sustaining growth amid West Asia crisis: PM Modi
India's economic fundamentals strong; collective effort key to sustaining growth amid West Asia crisis: PM ModiIANS

At the same time, the Prime Minister asserted that India's economic fundamentals remain strong and the government is taking continuous steps to minimise the impact of the West Asia conflict.

"This crisis has shaken the global economy, and recovery will take time. However, our economy is strong, and we are working on short-, medium-, and long-term strategies," he said.

He informed that an Inter-Ministerial Group has been formed to monitor challenges related to imports and exports, along with six empowered groups focusing on supply chains, fuel, fertilisers, gas, and inflation.

Referring to disruptions in the Strait of Hormuz, a key global trade route for crude oil, gas, and fertilisers, Modi said India is using dialogue and diplomacy to ensure uninterrupted supplies. Despite challenges, ships carrying crude oil and LPG from multiple countries have continued to arrive in India.

He added that India has strengthened its energy resilience over the years by diversifying imports from 27 to 41 countries, building strategic petroleum reserves, and expanding refining capacity.

"I assure the country that we have adequate crude oil storage and arrangements for continuous supply," he said.

The Prime Minister also assured farmers that efforts are being made to ensure adequate fertiliser availability for the upcoming sowing season, adding that the government stands firmly with them during the crisis.

Reiterating that the safety of Indian citizens is the top priority, Modi said that over 3.72 lakh Indians have been brought back safely since the conflict began, including more than 1,000 from Iran.

"Our government is working with full sensitivity during this crisis," he said, adding that affected families are being provided necessary support.