New Delhi: The Centre has told a parliamentary panel that India currently has crude oil stock for 78 days, even as concerns grow over the impact of the West Asia crisis and disruptions around the Strait of Hormuz on global shipping and energy supplies. The government also said it is working on alternative supply routes and strategies to manage the situation.
The matter was discussed at an important meeting of the Parliamentary Standing Committee related to Transport, Tourism and Culture. The Secretary of the Ministry of Ports, Shipping and Waterways made a presentation before the committee on the impact of the West Asia crisis on India’s maritime trade, shipping infrastructure and the safety of Indian seafarers. Officials from the Ministry of External Affairs, Ministry of Commerce and Petroleum Ministry were also present.
According to the report, the government informed the committee that the crisis is global in nature, but India is preparing alternative options to protect its energy and trade interests. Apart from the existing 78 day crude oil stock, supply alternatives from countries such as Russia, African nations, Algeria and Oman are also being considered.
The government also highlighted challenges being faced by shipping companies. Sources cited in the report said vessels moving out of the Strait of Hormuz are facing difficulties due to increased American security barriers and higher insurance premiums. This has added pressure on maritime operators at a time when global routes are already under stress.
The issue of fertiliser availability was also discussed in the meeting. The government assured the committee that the country currently has 80 lakh tonnes of fertiliser stock, which is higher than the previous figure of 74 lakh tonnes. This assurance comes at a time when fertiliser availability is crucial for farmers and the agricultural cycle.
However, opposition members reportedly raised several questions over the government’s preparedness. They alleged that clear answers were not given on many issues, including possible petrol and diesel rationing, the strategy after the reopening of the Hormuz route and the timeline for normalisation of the situation.
Sources said opposition members repeatedly questioned the presentation made by Petroleum Ministry officials and claimed that the government did not appear to have a clear roadmap for future challenges. The concerns reflect the wider anxiety over how prolonged tensions in West Asia could affect oil supplies, shipping costs and India’s trade movement.
For now, the government has maintained that India has adequate reserves and is exploring multiple supply options. But with global shipping routes under pressure, energy security and fertiliser availability are likely to remain key issues for policymakers in the coming weeks.