Modi stresses energy resilience, self-reliance amid global conflicts on Independence Day

Prime Minister Narendra Modi warned on India's 80th Independence Day that the weaponization of resources and strategic sea routes by some nations poses significant risks to India's economic security. Addressing the nation from the Red Fort, Modi called for enhanced self-reliance in energy to mitigate vulnerability to overseas supplies.

Modi pointed out that geopolitical tensions increasingly expose the dangers of depending on external sources for critical supplies like fuel, medicines, and technology. He noted that strategic geographical routes are also being weaponized, disrupting global trade and pushing up costs. This comes against the backdrop of the US-Iran conflict, which has severely impacted shipping through the Strait of Hormuz, a vital conduit for global energy.

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resources ranging from fuel and medicines to technology were increasingly being used as instruments of geopolitical pressure, while strategic geographical routes were also being weaponised.

The disruption has particularly affected India, which imports nearly 90% of its crude oil and about half of its natural gas. The country has been forced to seek alternative LNG supplies and diversify crude purchases. India has already broadened its energy sourcing, importing crude from 41 countries and LNG from 15, up from 27 and six respectively, as it seeks to insulate its economy from geopolitical shocks. Modi emphasized that these conflicts highlight the critical importance of achieving energy self-sufficiency.

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the geopolitical conflicts have underscored the importance of becoming self-reliant in energy.