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India’s Demand Indians Work from Home Amid Energy Supply Crisis
(MENAFN) Indian Prime Minister Narendra Modi on Sunday called on citizens and institutions to slash fuel consumption by reviving remote work practices and shifting to public transport, as the ongoing US-Israel conflict with Iran sends shockwaves through global energy markets.
Rising international tensions — particularly the current Middle East conflict — have squeezed oil prices and eroded India's foreign exchange reserves, Modi warned, framing the appeal as a matter of national economic resilience.
"During the Corona period, we developed many systems of work from home, online meetings and video conferences, and we even became accustomed to them," he said, adding, "If we restart these systems, it will be in the national interest."
The prime minister pressed both individuals and institutions to embrace digital alternatives to in-person interaction as an immediate lever to ease the fuel burden.
"We must prioritize work from home, online conferences, and virtual meetings again. We must also place a strong emphasis on saving foreign exchange, as petrol and diesel have become so expensive globally," Modi said.
He also championed broader adoption of metro and rail networks, alongside electric vehicles for freight movement, as structural steps toward reducing India's dependence on fuel imports.
The stakes are considerable. India ranks as the world's third-largest energy consumer, importing 85% of its crude oil requirements and sourcing close to 60% of its natural gas through imports — the bulk of which transit the Strait of Hormuz. Any sustained spike in crude prices ripples swiftly through fuel costs, transport, and broader inflationary pressures across the economy.
The numbers underscore the vulnerability: India's central bank has calculated that a 10% rise in crude prices shaves 15 basis points off economic growth while adding 30 basis points to inflation. The federal government has projected growth of 6.8%–7.2% for the current fiscal year, though major economic agencies including Goldman Sachs have offered more cautious estimates in the 5.9%–6.2% range.
Modi's remarks came on the same day US President Donald Trump rejected Iran's latest response to a proposed framework for ending the war, further clouding the outlook for energy market stability.
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