Commerce Minister Piyush Goyal said the government will use all policy tools to support exporters affected by the West Asia crisis. An inter-ministerial group is monitoring issues as shipping disruptions, rising freight costs and container shortages affect exports
The closure of Strait of Hormuz, which carries nearly 20% world’s oil supply, could push up oil prices for import-dependent India, widening the current account deficit, weakening the rupee, and fuelling inflation
The Congress criticised the government over its silence after a US submarine sank an Iranian warship near Sri Lanka. Rahul Gandhi and Mallikarjun Kharge said India’s strategic autonomy was compromised and raised concerns over energy security and Indians in the Gulf
India, heavily reliant on long-term LNG contracts with Qatar, faces a temporary cargo suspension, causing up to 40% supply cuts for industries and city gas distributors
The Ministry of External Affairs has set up a control room to assist Indians amid the West Asia crisis, following US strikes that killed Ali Khamenei. India is monitoring developments to safeguard citizens in the Gulf
With 25 days of crude and fuel stocks, plus strategic reserves and diversified imports, India is confident of maintaining supplies even if the West Asia crisis continues, a top oil ministry official said
The Centre has said it is prepared to evacuate Indians stranded in the Gulf amid rising tensions in West Asia. Several states have set up helplines and control rooms, while ministers assured families that efforts are underway to ensure safe return
