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India's Strategic Energy Resilience Amidst Global Oil Crisis
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India's Strategic Energy Resilience Amid Global Oil Crisis: Modi Govt's Visionary Interventions
M
Moneycontrol
•
01-04-2026, 10:59
India's Strategic Energy Resilience Amid Global Oil Crisis: Modi Govt's Visionary Interventions
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India weathered the West Asia crisis in early 2026, with oil prices skyrocketing, due to the Modi Government's strategic interventions.
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Over 11 years, the Modi Government built robust energy buffers, diversifying supply from 27 to 41 nations, reducing Hormuz dependency.
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Strategic Petroleum Reserves reached 5.3 million metric tonnes, with 6.5 million tonnes under development, providing 74 days of oil cover.
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Fiscal measures included slashing excise duties on petrol and diesel, preventing retail price hikes and supporting OMCs.
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Long-term initiatives like ethanol blending (20%), railway electrification, and metro expansion significantly reduced fossil fuel dependence.
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