West Asia Crisis: India's Energy Security Tested Amid Soaring Oil Prices and Supply Threats

• West Asia crisis escalates, driving oil and gas prices up and threatening crucial supply routes like the Strait of Hormuz.
• Iran's retaliatory strikes on oil infrastructure and threats to the Strait of Hormuz heighten fears of broader energy disruption.
• India, a major oil importer, faces acute supply risks and price volatility despite current short-term supply security.
• India is expanding Strategic Petroleum Reserves (SPR) and diversifying suppliers to mitigate risks and ensure long-term energy security.
• The country aims to increase refining capacity to 400-450 MMTPA by 2035 and invest in overseas oil blocks to reduce import dependence.