Assocham, one of India's leading industry chambers, on Monday endorsed Prime Minister Narendra Modi's seven public appeals as a strategic framework to strengthen India's economic resilience and accelerate the country's march towards Viksit Bharat. The industry body said the appeals, which address everything from petroleum conservation to gold imports, are directly aligned with the nation's long-term growth and self-reliance goals.

Seven Mantras for Economic Resilience

Nirmal K Minda, President of Assocham, described the seven appeals as "seven mantras to enhance India's resilience, competitiveness, and strength in the world of uncertain times." The appeals call on citizens to collectively participate in shielding the Indian economy from global disruptions, supply chain pressures, and price volatility triggered by ongoing international conflicts.

Minda specifically highlighted the appeal to shift towards electric vehicles (EVs) and rail transport, noting it would "help reduce pollution, speed up connectivity, and support Ease of Living in the country." He added that Modi's push to prefer public transport and metro travel would "support the logistics strength and fuel security of the country."

Forex Conservation and Aatmanirbhar Bharat

Assocham also welcomed the appeal to reduce the use of chemical fertilisers and limit foreign travel, arguing both steps would conserve precious foreign exchange reserves and advance India's Aatmanirbhar Bharat mission. On the appeal to limit excessive gold purchases, Minda noted that India imported gold worth nearly $70 billion in FY26, making restraint in gold buying a meaningful lever for forex management during uncertain global conditions.

Oil Marketing Companies Absorbing Heavy Losses

The statement also shed light on the scale of fiscal stress India's energy sector is quietly absorbing. India is among the few countries where petroleum prices have held steady through more than 70 days of global conflict-driven volatility — a period during which many nations have seen fuel prices rise by 30 to 70 per cent.

According to the industry body, India's oil marketing companies have been absorbing losses of close to ₹1,000 crore a day, with under-recoveries running to nearly ₹2 lakh crore in Q1 2026. This fiscal buffer has shielded ordinary citizens from the full brunt of soaring global energy prices, but it is not indefinitely sustainable.

Collective Action for a Stronger India

Assocham expressed confidence that the seven appeals would be embraced by Indian citizens for "the strong buildup of the Indian economy, the welfare of people, and the strength of the Indian economy in the global ecosystem." The industry body framed citizen-level behavioural change — from fuel prudence to reduced gold consumption — as a direct contribution to national economic security. This comes amid a broader push by the government to reduce India's import dependence and bolster domestic supply chains. The next test will be whether these appeals translate into measurable shifts in consumption patterns and import bills over the coming quarters.