Rajnath chairs ministerial review on West Asia crisis; assures ample energy, urges conservation
New Delhi, May 11. Defence Minister Rajnath Singh on May 11 chaired the fifth meeting of the Informal Group of Ministers (IGoM) on West Asia at Kartavya Bhawan in New Delhi, reviewing the evolving conflict and India’s preparedness to shield citizens from its fallout. The high-level meeting was attended by senior Union ministers including Jagat Prakash Nadda, Hardeep Singh Puri, Ashwini Vaishnaw, Kiren Rijiju, Kinjarapu Rammohan Naidu, Sarbananda Sonowal and Jitendra Singh.
Officials briefed the ministers that India remains energy-secure despite global volatility. The country currently holds rolling stocks equivalent to 60 days of crude oil, 60 days of natural gas and 45 days of LPG, while foreign exchange reserves stand at a comfortable $703 billion. As the world’s third-largest oil refiner and fourth-largest exporter of petroleum products, India continues to meet domestic demand in full and supplies fuel to over 150 countries.
However, the government acknowledged that persistently high global crude prices are imposing a heavy fiscal burden. Fuel conservation, ministers were told, can significantly ease this strain. Echoing Narendra Modi’s public appeal earlier in the day, Rajnath Singh asked ministries and states to translate the Prime Minister’s call for prudent fuel use into action on the ground.
Despite more than 70 days of conflict-driven volatility, retail fuel prices in India have remained largely steady, unlike in many countries where prices have surged by 30-70 percent. Oil marketing companies have reportedly absorbed losses of nearly ₹1,000 crore per day, with under-recoveries nearing ₹2 lakh crore in the first quarter of 2026 to shield consumers from global price shocks. Ministers stressed there was no cause for panic buying at fuel stations.
The IGoM was also informed that essential commodities remain in surplus and supply chains are functioning smoothly. The current emphasis on conservation is aimed at long-term resilience should the crisis persist, rather than a response to any immediate shortages.
Rajnath Singh underscored that India’s priority in the present situation is to keep energy flows uninterrupted, maintain economic stability and secure maritime trade routes. He called for vigilance across departments and urged faster progress in diversifying the country’s energy mix, expanding renewables, improving energy efficiency and reassessing strategic reserve requirements in light of supply chain vulnerabilities.
The Defence Minister also emphasised that the West Asia situation must be viewed through the lens of broader global interdependence. He called for stronger crisis anticipation, early warning assessments and coordinated, whole-of-government preparedness.
On the economic front, ministers were briefed about steps taken to support industry, particularly MSMEs. The Union Cabinet’s recent approval of the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 aims to unlock an additional ₹2.55 lakh crore in credit with full guarantee cover for MSMEs and substantial backing for other sectors, including aviation. In addition, the Finance Ministry has issued guidance allowing ‘force majeure’-related relief in public procurement contracts, permitting deadline extensions of two to four months from February 28, 2026.
Fertiliser supplies, the meeting noted, remain robust and continue to exceed demand.
In a post on X after the meeting, Rajnath Singh reassured citizens that the government is taking comprehensive measures to prevent shortages or disruptions and urged people to remain calm and avoid panic buying, while contributing to national resilience through responsible consumption.
