Prime Minister Narendra Modi announced on Tuesday that the Indian government had constituted seven empowered groups of senior officials and experts to manage the cascading consequences of the West Asia war on India’s economy — drawing an explicit parallel to the expert panels that guided India’s national COVID-19 response in 2020 and 2021.

“We must confront every challenge with patience, restraint, and a calm mind. Self-reliance is the only option going forward.”

— PM Narendra Modi, Statement in Rajya Sabha, March 24, 2026

Speaking in the Rajya Sabha, Modi acknowledged that the ongoing conflict — now entering its fifth week since the US-Israel strikes on Iran on February 28 — was creating unprecedented challenges for India’s supply of crude oil, natural gas, and fertilisers. The closure of the Strait of Hormuz has strangled a critical artery of Indian imports, pushing fuel prices and inflation higher across the country.

📌 The 7 Groups: Who Does What

Modi stressed that India’s strategic petroleum reserves — currently standing at 53 lakh metric tonnes — provide a buffer, and that the government is working to expand that capacity to 65 lakh MT. He also assured farmers that fertiliser supplies for the upcoming kharif season would be protected, even as global supply chains buckle under the pressure of the conflict.

✈ Indians Abroad: A Humanitarian Priority
Modi confirmed that approximately one crore Indians live and work across Gulf nations — and their safety remains a top government concern. Around 3,75,000 Indians have already returned home from the region. Over 1,000 Indians have been evacuated from Iran itself, including more than 700 young medical students who were studying there when the conflict erupted.

On the diplomatic front, India has adopted a careful posture — not taking sides in the US-Israel conflict with Iran, while actively engaging all three parties to push for de-escalation. Modi called the attacks on commercial ships and the disruption of international waterways “completely unacceptable,” and said India’s aim is the reopening of the Strait of Hormuz to global shipping.

⚠ Fight Against Hoarding
Modi has directed all state governments — regardless of political affiliation — to put special monitoring mechanisms in place immediately to combat black marketing and hoarding of essential goods. He invoked the “Team India” spirit of the pandemic era, calling on Centre and states to collaborate with the same urgency that defined India’s vaccine rollout.

The Prime Minister was unambiguous about the road ahead: if the West Asia crisis persists for an extended period, India will face serious economic consequences. But he expressed confidence that through coordinated action, India would navigate the crisis as it has overcome every challenge before — together, and with resolve.

Topics
PM Modi
West Asia War
India Energy Crisis
Strait of Hormuz
Indian Diplomacy
Fuel Supply
Fertilisers India
Gulf Indians
Iran War
Rajya Sabha