Prime Minister Narendra Modi appealed to Indian citizens on Monday to conserve fuel and stop buying gold to reduce the national import bill [1].
The request comes as escalating conflict between Iran and the U.S. in West Asia drives global crude oil prices to between $120 and $126 per barrel [1]. Because India relies heavily on imported energy, these price surges threaten the national economy and increase the cost of essential imports.
Speaking at a public event in Gujarat and later at a rally in Telangana, Modi said the Middle East conflict has exposed India's heavy reliance on imported energy. He asked citizens to adopt measures such as carpooling, using public transport, and shifting to online classes [2, 3].
Modi also called for a reduction in luxury spending and foreign travel. He specifically urged Indians to avoid buying gold for a year, and to limit destination weddings abroad to prevent further currency outflow [2, 3].
"I urge every Indian to work from home, avoid buying gold, and use public transport to help reduce the import bill," Modi said [2].
While the Prime Minister's appeal implies a need for caution, some industry data suggests current supplies remain stable. Reports indicate that 51.8 lakh LPG cylinders were delivered in a single day amid the tensions [4]. Additionally, over 42,500 users have recently shifted to Piped Natural Gas (PNG) [4].
Modi emphasized a "vocal for local" approach to navigate the global uncertainty. He said that switching to online classes and working from home are essential steps as oil prices soar [3].
“"The conflict in the Middle East has exposed India's heavy reliance on imported energy,"”
The Prime Minister's appeal signals a shift toward austerity to protect India's foreign exchange reserves. By targeting gold and fuel—two of India's largest import expenditures—the government is attempting to mitigate the macroeconomic shock of a 'price spike' in the energy market caused by geopolitical instability in West Asia.
