Indian PM Modi says the government is ensuring uninterrupted oil and gas supply; India has over 5.3mln metric tons of strategic petroleum reserves; India is working on 6.5mln metric tons more of reserves
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Indian PM Modi says the government is ensuring uninterrupted oil and gas supply; India has over 5.3mln metric tons of strategic petroleum reserves; India is working on 6.5mln metric tons more of reserves
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Context
PM Modi's announcement about India's commitment to oil and gas supply continuity signals a proactive stance amid global energy uncertainties, which could help stabilize domestic markets. The existing strategic petroleum reserves and plans for expansion also indicate that India is positioning itself for energy security, potentially influencing global oil prices and trade dynamics, especially in light of changing geopolitical relationships. Such measures may provide reassurance to investors and could keep a lid on inflationary pressures tied to energy costs.
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