New Delhi, March 23 (NationPress) Prime Minister Narendra Modi announced on Monday that the Indian government currently holds a strategic petroleum reserve exceeding 53 lakh metric tonnes and is actively working to establish an additional reserve of 65 lakh metric tonnes. This announcement was made while addressing the Lok Sabha regarding the ongoing crisis in West Asia and India’s strategic response.

During his address, PM Modi highlighted that over the last decade, India has significantly diversified its energy import sources, which has helped decrease reliance on any single country.

“Our nation’s refineries have undergone continuous improvement over the past 11 years. We now import energy from 41 countries, a notable increase from 27 countries a decade ago,” he stated, reaffirming the government’s commitment to maintaining a stable supply of essential energy resources, including petrol, gas, and fertilisers, amidst the ongoing conflict.

PM Modi also mentioned that the government is closely monitoring shipping routes and maritime corridors to ensure timely delivery of gas, petrol, and fertilisers from their source nations.

“Recently, several ships that were stuck in the Strait of Hormuz have successfully reached Indian shores,” he informed the House.

The Prime Minister assured that the country has sufficient food reserves, attributing this achievement to the efforts of farmers, and mentioned the diversification of fertiliser imports.

“We have implemented necessary measures to protect farmers from global market fluctuations, including the establishment of urea plants and a diversified fertiliser import strategy,” he elaborated.

To further reduce dependency, the government is promoting organic farming practices and has installed 22 lakh solar pumps, alleviating some of the challenges faced by farmers, he added.

In recent years, the government has been dedicated to developing alternative energy sources, which will contribute significantly to safeguarding national interests.

PM Modi noted that ethanol blending in petrol has improved substantially, reaching a 20 percent blending rate today.

“The progress in railway electrification over the last few years has been remarkable; without this advancement, an additional 180 crore litres of petrol would have been consumed,” he remarked.

“The Metro network has expanded from 250 km a decade ago to 1100 km today. In an effort to boost electric mobility, the Central government has provided 15,000 electric buses to various states,” PM Modi highlighted.

Recognizing the importance of energy to the economy and the pivotal role of West Asia as a key supplier, PM Modi acknowledged that the global economy is experiencing disturbances but assured that his government is committed to protecting the interests of Indian citizens.

“We are engaging with all stakeholders to provide necessary support. The collaborative efforts of the government and industries will help us navigate through these challenging times,” he concluded.