Hyderabad/New Delhi Amid disruptions in global energy supplies, PM Narendra Modi on Sunday urged people to use public transport and revive work from home, reduce dependence on petrol and diesel – which largely comes from imported crude – and conserve foreign exchange by avoiding foreign weddings and holidays as well as unnecessary gold purchases.The suggestions, seen as the harshest call given by the Prime Minister at an event in Hyderabad, come as the blockade of the Strait of Hormuz nears completion of 75 days, with the government using multiple sources to procure oil and gas whose supply has been hit, pushing up crude oil prices for Indian refiners for the third consecutive month. So far, oil companies have not increased pump prices but are expected to do so in the next few days.

‘Need to save FGN exchange amid war crisis’

While many countries have resorted to WFH and other options to reduce fuel consumption apart from increasing fuel prices, India has so far avoided such steps. In recent months, higher energy and gold and silver prices have widened India’s trade deficit as export growth has also slowed.Modi asked people to avoid non-essential gold purchases for a year and stop unnecessary foreign travel, and called for bringing back Covid-era efficiency measures like WFH arrangements in the national interest. He also urged businesses to opt for moving goods by rail, and asked individuals to avoid unnecessary travel and car pools and use EVs.“If we make some small changes for a year, we can save enough foreign exchange,” he said.Amid the impact on fertilizer supplies, he also suggested that farmers halve the use of chemical fertilizers and in some cases turn to natural farming.

The PM called for patriotism, arguing that it is not just about sacrificing 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 cope with rising prices due to global economic disruptions, supply chain challenges and international conflicts.He said, “The need of the hour today is to use petrol, gas, diesel and similar resources sparingly. We should use imported petroleum products only as per requirement. This will not only save foreign exchange but will also reduce the adverse effects of war.” India imports about 90% of its crude oil requirement as domestic production is declining. PM Modi proposed reducing cooking oil consumption by 50%, he remarked, which would improve health.

PM Narendra Modi called for collective participation to help India face rising prices due to global economic disruptions, supply chain challenges and international conflicts.“Today, the need of the hour is to use petrol, gas, diesel and similar resources sparingly. We should use imported petroleum products only as per requirement.” This will not only save foreign exchange but also reduce the adverse effects of war.” India imports about 90% of its crude oil requirement as domestic production is declining.The PM said his government initially focused on achieving universal LPG coverage for the poor and is 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 making tireless efforts to deal with these challenges. In other countries, the price of a bag of urea is around Rs 3,000, but our farmers are getting it for just Rs 300.Modi also asked people to support ‘Make in India’ products and choose Indian alternatives for everyday items like toothpaste and advocated the use of electric vehicles and solar-powered pumps as an alternative to diesel-powered vehicles. In another suggestion, Modi proposed reducing cooking oil consumption by 50%, which he remarked would improve health.