India Energy Security Plan: Amidst the West Asia crisis, India has taken a big step for energy security. Prime Minister Narendra Modi informed in Rajya Sabha about Rs 70,000 crore indigenous shipbuilding plan and increasing strategic oil reserves.
The increasing geopolitical tension and fear of war in West Asia has made the entire world worried about the energy crisis. The risk of impact on the supply of crude oil and gas is continuously increasing. At such a time, India has taken a big and strategic decision to strengthen its energy security.
Speaking in the Rajya Sabha, Prime Minister Narendra Modi said that the government has launched an indigenous shipbuilding project worth Rs 70,000 crore to reduce dependence on foreign ships. Under this scheme, 2500 indigenous ships will be built in the coming time, so that India can make its energy supply more secure and self-reliant.
90% dependence on foreign ships becomes a concern
The Prime Minister said in the Rajya Sabha that India’s energy needs are increasing rapidly and the country imports a large part of its needs from abroad. He clearly stated that about 90 percent of the petroleum products coming to India come through foreign ships. In such a situation, whenever there is a major crisis or war in the world, the risk of the supply chain being affected increases. To reduce this risk, the government has taken a big step towards indigenous shipbuilding. The aim of this Rs 70,000 crore project is to make India self-reliant in the field of maritime transport also.
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According to the government’s plan, about 2500 ships will be built under this project. These ships will be used in import-export of crude oil, gas and other essential goods. Experts believe that if India has a large fleet of its own ships, it will be easier to maintain energy supply even during global crisis.
India’s concern over West Asia crisis
Prime Minister Narendra Modi also said that the ongoing conflict in West Asia is a matter of concern for the entire world. India wants that tension in this region should be reduced and all issues should be resolved through dialogue and diplomacy. He said that India’s goal is to reduce war and keep the Strait of Hormuz, which is very important for maritime trade, open. This route is considered one of the most important oil transportation routes in the world.
Trying to buy oil and gas from all sources
The Prime Minister said that the government is currently trying to purchase crude oil and gas from all available sources. This effort will continue in the coming days also, so that there is no major impact on the energy supply in the country. The government is constantly monitoring the international situation and if necessary, alternative supply routes are also being explored.
India is also increasing strategic oil reserves
India has also been increasing strategic oil reserves over the past few years to strengthen energy security. The Prime Minister said that in the last 11 years, 53 lakh metric tonnes of strategic oil reserves have been created in the country. Apart from this, work is also going on on additional storage capacity of 65 lakh metric tonnes. With this, the country will have adequate oil reserves available during any major global crisis in future.
Big step towards energy self-sufficiency
Experts believe that the indigenous shipbuilding plan is not limited to just the maritime sector, but it is also a big step related to India’s energy security and economic stability. If this plan is successful, India will be able to reduce its dependence on foreign ships in the coming years and will be able to secure energy supply even in times of global crisis. Amidst the rapidly changing global situation, this decision indicates India’s long-term strategy, in which both energy security and self-reliance are being given priority.
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