PM Modi chaired a high-level Cabinet meeting in Parliament to review the West Asia crisis, India’s energy security, fuel supplies, shipping safety, and economic preparedness. The government assessed crude oil imports, supply chains, and measures to safeguard India’s macroeconomic stability.
Prime Minister Narendra Modi on Thursday chaired a high-level meeting of senior Cabinet ministers at his office in Parliament to review the evolving situation in West Asia and assess its implications for India’s energy security, fuel supplies, maritime safety and overall economic stability. The strategic meeting brought together key members of the Union Cabinet responsible for national security, external affairs, finance, commerce, petroleum and health, reflecting the government’s coordinated approach to addressing the challenges arising from the ongoing geopolitical crisis.
Among those present at the meeting were Home Minister Amit Shah, Defence Minister Rajnath Singh, External Affairs Minister S. Jaishankar and Finance Minister Nirmala Sitharaman. National Security Advisor Ajit Doval also attended the discussions. Other senior ministers included Petroleum and Natural Gas Minister Hardeep Singh Puri, Health Minister J.P. Nadda, Commerce and Industry Minister Piyush Goyal and Ports, Shipping and Waterways Minister Sarbananda Sonowal.
According to official sources, the meeting primarily focused on the deteriorating security situation in West Asia and its impact on global energy markets. Particular attention was given to the Strait of Hormuz, a crucial maritime route through which nearly 20 per cent of the world’s oil and natural gas exports pass. Continued disruptions in the region have constrained petroleum supplies, triggered volatility in international markets and pushed up energy prices across several countries.
The ministers also reviewed growing security concerns involving commercial shipping in the region. Repeated attacks on merchant vessels have heightened risks for international maritime trade and raised concerns about the safety of Indian seafarers operating in affected waters. The government has already taken up the issue with both Iran and the United States to ensure the protection of Indian citizens employed in the global shipping industry.
The Centre informed Parliament earlier this week that it has implemented a comprehensive set of measures to minimise the impact of global supply chain disruptions caused by the West Asia crisis. These initiatives are aimed at ensuring the uninterrupted availability of critical industrial inputs, stabilising energy supplies, easing input costs for industries, facilitating trade and maintaining macroeconomic stability during a period of heightened global uncertainty.
The government has also taken proactive steps to safeguard the agricultural sector by ensuring adequate availability of fertilisers and other essential farm inputs. These measures include assured natural gas supplies, diversification of import sources, advance procurement strategies and the maintenance of adequate buffer stocks to prevent shortages.
Officials noted that the recent geopolitical developments have had significant consequences for crude-oil-importing economies worldwide, including India. Higher international crude oil prices have increased the country’s import bill, placing additional pressure on the economy. However, the government highlighted a positive trend, noting that the average price of the Indian crude oil basket has declined considerably from 114.5 US dollars per barrel in April 2026 to 77.6 US dollars per barrel by July 22, 2026, offering some relief from earlier price spikes.
To further cushion the economy from external shocks, the government has introduced several policy interventions. These include temporary customs duty exemptions on selected petrochemical feedstock to support domestic industries, the launch of the Bharat Maritime Insurance Pool RELIEF (Resilience & Logistics Intervention for Export Facilitation) Scheme to assist exporters facing higher maritime risks, restoration of RoDTEP (Remission of Duties and Taxes on Exported Products) benefits to offset increased freight, insurance and war-risk expenses, and additional liquidity support through the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0.
| Also Read: Lok Sabha clears Vande Mataram Bill 2026 with voice vote |
The high-level Cabinet meeting underscored the government’s commitment to closely monitoring global developments and ensuring that India’s energy security, supply chains, trade interests and economic resilience remain protected amid continuing geopolitical uncertainty in West Asia. Through coordinated policy measures and continuous review, the Centre aims to minimise the impact of external disruptions while maintaining stable supplies of essential commodities and supporting sustained economic growth.
