New Delhi: PM Narendra Modi on Sunday made a strong appeal to citizens to adopt economic restraint and prioritise national interest in view of rising global instability, ongoing conflicts in the Middle East, and mounting pressure on the world economy.
Addressing a massive public gathering in Secunderabad, the Prime Minister said that war-like conditions in India’s neighbourhood over the past two months have had a significant impact on global markets and are also affecting India’s economic landscape.
Referring to the Russia-Ukraine War, PM Modi said that prolonged international conflicts directly influence fuel prices, energy supply chains, trade routes, and foreign exchange reserves. He warned that the ripple effects of geopolitical tensions are being felt across nations, including India.
In a notable appeal aimed at conserving the country’s foreign exchange reserves, the Prime Minister urged citizens to avoid purchasing gold for weddings and celebrations for at least one year. He stressed that reducing non-essential imports during challenging economic times would strengthen the nation’s financial stability.
“Country first should be our guiding principle in these difficult times,” he said, adding that collective public participation can help India navigate global uncertainties more effectively.
Recalling the lessons learnt during the COVID-19 Pandemic, PM Modi said Indians had successfully adapted to work-from-home culture, online meetings, and digital communication platforms during the crisis. He suggested that such practices could once again help reduce unnecessary travel and fuel consumption if global conditions worsen further.
The Prime Minister also highlighted the sharp increase in international crude oil prices and appealed to citizens to use petrol and diesel judiciously. He said energy conservation at the individual level can contribute significantly to national economic resilience.
PM Modi’s remarks have sparked widespread debate in political and economic circles, with analysts interpreting the statement as a signal of the government’s growing concern over global volatility and its potential impact on India’s economy in the coming months.
