PM Modi
NEW DELHI: Prime Minister Narendra Modi on Monday once again called for collective national efforts to reduce dependence on imports and strengthen India’s position in global supply chains, while urging citizens to avoid unnecessary spending of foreign currency during a period of global uncertainty.Speaking in Vadodara amid concerns over disruptions caused by the ongoing conflict in the Middle East and volatility in global energy markets, the Prime Minister said India was continuously working to emerge as a major participant in international supply chains.”We are continuously working to make India a major participant in global supply chains,” PM Modi said, stressing that the country must use the present challenges as an opportunity to strengthen self-reliance and domestic manufacturing capabilities. The Prime Minister also appealed to citizens to support the government’s efforts by consciously reducing import dependence and avoiding activities that involve excessive foreign exchange outflow.”We must take all efforts to reduce the use of imports and avoid personal activities that involve spending foreign currency,” he said.Drawing parallels with previous national crises, PM Modi said Indians had historically responded with unity and responsibility whenever the country faced wars or major challenges. “Whenever India faced war or any major crisis, citizens fulfilled their responsibility on the government’s appeal. We need to do the same now,” the Prime Minister said.”Even in the earlier decades, whenever the country has gone through war or any other major crisis, every citizen has fulfilled their responsibility in the same way in response to the government’s appeal. Today, too, there is a need for all of us to come together and fulfil our responsibility to reduce the burden on the country’s resources. India spends lakhs of crores of rupees in foreign exchange to import many products from abroad. At the same time, the prices of imported goods are soaring, and global supply chains have also been severely disrupted. Just as every drop fills a pot, every small and big effort matters. We must reduce the use of products that come from abroad and avoid unnecessary dependence on imported goods in our daily lives, and also avoid such personal activities that involve spending foreign exchange,” PM Modi said. He also repeated his appeal for reduced fuel consumption and switch to public transport or electric vehicles while once again urging people to defer gold buying.The remarks come at a time when the government is closely monitoring the impact of the Middle East conflict on global oil prices, shipping routes and supply chains.
