NEW DELHI: PM Narendra Modi on Tuesday announced the formation of seven empowered groups to assess the implications of the ongoing military conflict in West Asia on energy supplies, essential commodities and supply chains, and chart a strategy to cushion its impact on the Indian economy.In a statement in Rajya Sabha, Modi said the conflict had rattled economies across the world and cautioned that recovery from the damage inflicted in West Asia would take time. Drawing from govt’s playbook during the Covid-19 pandemic, he said the new groups would function as quick-response teams focusing on key areas such as petrol and diesel, fertilisers, gas, supply chains and inflation.”I am fully confident that through these shared and coordinated efforts, we’ll be able to navigate these circumstances more effectively,” the PM said, noting that an inter-ministerial group was already meeting regularly to track developments and address emerging challenges arising out of the situation.
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The seven panels, comprising senior officers from various ministries and departments, have been tasked with identifying risks and preparing short-, medium- and long-term strategies in a time-bound manner.Their mandate includes assessing vulnerabilities in energy supplies and pricing, ensuring adequacy of strategic reserves, and taking steps to manage price volatility and prevent supply disruptions. They will also examine potential bottlenecks – from shipping routes and ports to aviation corridors and critical imports and recommend pre-emptive measures. The groups are expected to explore alternative sources of imports to reduce dependence on any single region, while keeping a close watch on domestic availability and price stability of essential commodities, including food, fertilisers and fuels.During the pandemic, govt had set up 11 such empowered groups comprising officials and experts to take swift decisions and ensure coordination between the Centre and the states. Flagging the likelihood of a prolonged disruption, Modi said the conflict’s adverse effects may last a long time. “But I assure people that govt remains vigilant and proactive, and is taking every necessary decision with seriousness.”
