PM Modi warns of weaponisation of resources, sea routes; urges energy self-reliance
Without naming any country, Mr. Modi said resources ranging from fuel and medicines to technology were increasingly being used as instruments of geopolitical pressure, while strategic geographical routes were also being weaponised.
On India's Independence Day, Prime Minister Narendra Modi warned of the risks posed by the weaponisation of resources and strategic sea routes by certain nations. He called for greater energy self-reliance to reduce India's vulnerability to external supplies. The Prime Minister addressed the nation from the Red Fort, emphasizing the need to strengthen domestic capacity in critical areas such as energy and minerals.
He cited the ongoing U.S.-Israeli conflict with Iran and the subsequent disruption of shipping through the Strait of Hormuz as examples of how geopolitical tensions can expose the risks of dependence on external sources. The narrow waterway, which handles about 20 million barrels of oil and almost 20% of global LNG trade daily, has been significantly impacted by the conflict, pushing up energy and shipping costs.
Renewed tanker attacks have further hindered efforts to resolve the situation. Modi highlighted India's increasing dependence on imported energy, noting that the country has had to seek alternative LNG supplies from countries like Oman, the United States, Nigeria, and Angola. The Prime Minister stressed the importance of becoming self-reliant in energy, particularly in light of India's heavy reliance on imports.
India imports nearly 90% of its crude oil and about half of its natural gas needs. In response, the government has launched the ₹84,084-crore Samudra Manthan National Offshore Exploration Scheme to accelerate oil and gas exploration in deepwater and ultra-deepwater areas over the next five years. This initiative aims to unlock domestic hydrocarbon resources and reduce India's exposure to global energy-price and supply shocks.
The Prime Minister also mentioned other achievements of his government, such as expanding piped cooking gas coverage to 700 cities and increasing solar energy generation from 2 gigawatts to 160 gigawatts. Energy security is a key component of his broader push for an "Atmanirbhar Bharat" or self-reliant India.
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