New Delhi, May 11, KDC: Raksha Mantri Rajnath Singh on Monday chaired the fifth meeting of the Informal Group of Ministers (IGoM) on West Asia and reviewed India’s preparedness amid the ongoing regional conflict, asserting that there is no shortage of petroleum products in the country and urging citizens to remain calm.
The high-level meeting was held at Kartavya Bhawan-2 in New Delhi and was attended by Union Ministers Jagat Prakash Nadda, Hardeep Singh Puri, Ashwini Vaishnaw, Kiren Rijiju, Kinjarapu Rammohan Naidu, Sarbananda Sonowal and Dr Jitendra Singh.
The meeting reviewed the latest developments in West Asia and discussed measures to minimise the impact of the crisis on India’s economy, energy security and supply chains.
Officials informed the Ministers that India currently has sufficient reserves, including 60 days of crude oil stock, 60 days of natural gas and 45 days of LPG rolling stock, ensuring uninterrupted domestic supply even as several countries have imposed emergency consumption restrictions.
The government also highlighted that India’s foreign exchange reserves remain strong at 703 billion US dollars.
Addressing concerns over fuel availability, the government clarified that there is no reason for panic buying or rushing to fuel stations.
“India is secure and there is no shortage of any petroleum product,” the government said, adding that the country continues to meet full domestic demand while exporting petroleum products to more than 150 countries.
India, the world’s third-largest oil refiner and fourth-largest exporter of petroleum products, has managed to keep domestic fuel prices stable despite more than 70 days of global volatility caused by the conflict in West Asia.
Officials informed the meeting that while fuel prices in many countries have risen by 30 to 70 per cent, Indian oil marketing companies have absorbed losses of nearly Rs 1,000 crore per day. Under-recoveries in the first quarter of 2026 have reached close to Rs 2 lakh crore to shield citizens from the burden of rising international crude prices.
The government, however, stressed the need for fuel conservation to reduce the economic burden on the nation.
Prime Minister Narendra Modi has appealed to citizens to reduce unnecessary fuel consumption and adopt energy-saving measures. The Prime Minister urged people to use metros and public transport, opt for carpooling, avoid unnecessary foreign travel, promote domestic tourism and celebrations within India, and refrain from non-essential gold purchases for one year.
The Prime Minister also appealed to farmers to reduce chemical fertiliser usage by 50 per cent, move towards natural farming practices, protect soil health and encourage the use of solar-powered irrigation pumps instead of diesel pumps.
Rajnath Singh directed ministries and state governments to take concrete steps for implementing the Prime Minister’s appeal on the ground.
“Ministries and States must identify, in a coordinated manner, measures to institutionalise fuel efficiency, public awareness and responsible consumption behaviour,” he said.
The Ministers were informed that the country has surplus stocks of essential commodities and that the current conservation drive is aimed at long-term capacity building in case the international crisis prolongs.
Supply management across sectors has remained stable and citizens have been advised against over-purchasing fuel or essential goods.
In a post on X after the meeting, Rajnath Singh praised the efforts being made to maintain uninterrupted supply of essential commodities and reiterated that all necessary measures are being taken to avoid disruptions in supply chains.
The Raksha Mantri emphasised that India’s immediate priority is to ensure uninterrupted energy flows, maintain economic stability and secure maritime trade routes.
He also stressed the need for India to rapidly expand renewable energy sources, diversify energy supplies and increase investment in energy-efficient technologies.
Calling for a reassessment of strategic reserves, Rajnath Singh said future energy security must remain a national priority amid evolving global uncertainties.
He further observed that the West Asia conflict cannot be viewed in isolation because international crises have far-reaching consequences in an interconnected world. He stressed the importance of strategic crisis anticipation, early warning systems, scenario planning and whole-of-government preparedness.
The meeting also reviewed measures being taken to support industries and MSMEs affected by global disruptions.
Officials informed the Ministers that the Union Cabinet had approved the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 on May 5, 2026, with an additional credit flow target of Rs 2.55 lakh crore. The scheme provides 100 per cent credit guarantee coverage for MSMEs and 90 per cent coverage for non-MSMEs and the airline sector.
The Ministry of Finance has also issued force majeure-related relief measures for public procurement contracts, allowing deadline extensions of two to four months from February 28, 2026, considering the ongoing crisis as a war-like situation.
The IGoM was further informed that fertiliser availability across the country remains robust and stocks continue to exceed requirements ahead of the Kharif 2026 season.
As of May 11, 2026, the country’s fertiliser stock stood at 199.65 lakh metric tonnes compared to 178.58 lakh metric tonnes during the same period last year.
The stock includes Urea: 76.65 lakh tonnes, DAP: 22.52 lakh tonnes, NPKs: 60.42 lakh tonnes, SSP: 26.99 lakh tonnes and MOP: 13.07 lakh tonnes.
The Department of Agriculture and Farmers Welfare has estimated fertiliser requirement for Kharif 2026 at 390.54 lakh metric tonnes, of which more than 51 per cent is already available — significantly higher than the usual stock level of around 33 per cent.
Officials said the improved stock position reflects better planning, advance stocking and efficient logistics management by the government.
The meeting was also informed that fertiliser sales between March 1 and May 10, 2026, rose significantly compared to the same period last year, indicating strong supply availability and market stability. (KDC)
