New Delhi, March 24 (NationPress) On Tuesday, Prime Minister Narendra Modi emphasized that the foundations of the Indian economy are robust, and the government is actively working to minimize the impact of the conflict in West Asia on the nation.

During his address in the Rajya Sabha regarding the West Asia situation, PM Modi remarked, "This ongoing crisis has disrupted the economies globally. Recovery from the repercussions of the West Asia conflict will take considerable time. We are making continuous efforts to ensure that it affects India as little as possible. Our economic fundamentals remain strong, and the government is closely monitoring the evolving circumstances. A strategic approach is being adopted to manage the short-term, medium-term, and long-term ramifications."

He revealed that the Centre has established an Inter-Ministerial Group that convenes regularly to evaluate challenges in India’s imports and exports. This group consistently seeks necessary solutions to emerging issues.

"Similar to the empowered groups formed during the Covid pandemic to address sectoral challenges, six new empowered groups were constituted yesterday. Their focus will be on critical areas such as supply chains, fuel, fertilizers, gas, and inflation, working swiftly and effectively under a comprehensive strategy," he stated, expressing confidence that these collective efforts will enhance the country's response to the situation.

The Prime Minister also highlighted that the Strait of Hormuz serves as one of the largest conduits for global trade, facilitating significant transport of crude oil, gas, and fertilizers.

"Since the onset of the war, navigating the Strait of Hormuz has become considerably challenging. Nevertheless, despite these adversities, our government has endeavored to establish pathways through dialogue and diplomacy. Our goal is to guarantee that oil and gas supplies reach India from all possible sources. The outcome of these efforts is already visible," he mentioned.

In recent days, PM Modi noted that ships delivering crude oil and LPG from various nations have successfully arrived in India.

"We will persist in our endeavors to ensure that vessels transporting essential goods, whether oil, gas, or fertilizers, reach India safely," he added.

"However, if global conditions stemming from this conflict remain unchanged, significant adverse effects are unavoidable. Therefore, India is intensifying efforts to bolster resilience," he cautioned.

PM Modi reassured farmers that the government is committed to ensuring they receive sufficient fertilizers during the upcoming sowing season.

"The government is tirelessly working to ensure that farmers are not burdened by any crises. I reaffirm our commitment to stand by farmers in overcoming any challenges," he stated.

Over the past 11 years, the Prime Minister noted that India has consistently worked to address such situations, mentioning the diversification of energy imports from 27 to 41 countries, the establishment of strategic petroleum reserves, and an increase in refining capacity.

"I assure both the House and the country that India has adequate crude oil storage and arrangements for a continuous supply," he concluded.

Reiterating the government's commitment to the safety of Indian citizens, PM Modi provided data indicating that since the conflict began, more than 372,000 Indians have returned safely to the country, including over 1,000 from Iran.

"Our government is operating with utmost sensitivity during this crisis," PM Modi remarked, adding that affected families are receiving necessary assistance.