As tensions and conflict in West Asia continue to affect global oil prices and supply chains, Prime Minister Narendra Modi has asked Indians to bring back some habits that became common during the Covid-19 pandemic. These include working from home, holding virtual meetings, travelling less, and controlled consumption.
Speaking at a public event in Hyderabad on May 10, Modi said these steps are important for the country’s economy at a time when rising crude oil prices and global uncertainty are increasing pressure on India’s foreign exchange reserves.
Modi Backs Work-From-Home And Virtual Meetings Again
The Prime Minister said methods used during the Covid-19 pandemic such as online conferences, work-from-home, and video meetings had worked well earlier and should now be used again “in the national interest”.
The government’s fresh push for work-from-home is directly linked to the economic impact of the ongoing conflict in West Asia. Problems around the Strait of Hormuz, a major route for global oil transport, have caused fuel prices to rise across the world, creating worries for countries like India that depend heavily on imported oil.
“During the Corona period, we developed many systems of work from home, online meetings and video conferences. Today, the demands of the times are such that if we restart these systems, it will be in the national interest,” he said.
Rising Oil Prices And India’s Import Dependence
India imports most of the crude oil it uses, so any long-lasting problems in the Middle East quickly lead to higher fuel prices, increased transport costs and rising inflation in the country.
Keeping this in mind, Modi said that cutting down on unnecessary travel could help save petrol and diesel and also reduce India’s oil import costs.
The appeal is seen as one of Modi’s strongest supports for hybrid and work-from-home practices since offices across India returned to normal after the Covid-19 pandemic.
PM Modi Urges Use Of Public Transport And Carpooling
A large part of his speech focused on reducing fuel use by both individuals and organisations.
He asked people in cities with metro services to use public transport whenever possible and avoid unnecessary use of private vehicles. For those who need to travel by car, he suggested carpooling.
Strait Of Hormuz Tensions Raise Fears Of Energy Crisis
The comments come at a time when tensions around the Strait of Hormuz are increasing. The important sea route carries a large portion of the world’s oil supply, and continued instability in the region has raised fears of a bigger global energy crisis.
Iran’s warning to Western nations against military action in the region, along with increased naval activity by several countries, has added to worries about possible disruptions in oil supplies.
For India, which depends heavily on imported crude oil, a long-lasting crisis in West Asia could lead to higher inflation, increased transport costs, pressure on industries and slower economic growth.
Also Read: PM Modi Urges Indians To ‘Be Guardians Of The Rupee’, Avoid Foreign Trips And Delay Gold Purchases Amid Global Turmoil
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