India must remain prepared for any sudden escalation in the West Asia conflict, said Union Defence Minister Rajnath Singh, describing the current situation in the region as "volatile". Singh made the comments while chairing a high-level meeting of the Informal Group of Ministers (IGoM) set up to monitor the situation in West Asia, according to PTI.
The defence ministry said Rajnath Singh described the "ground situation of the conflict as uncertain and volatile, and emphasised the need for India to remain prepared not only for de-escalation but also for any renewed escalation."
The central government under the leadership of Prime Minister Narendra Modi continues to take "swift and effective action" to mitigate any potential risks or problems arising due to the conflict, he posted on social media.
The meeting was attended by External Affairs Minister S Jaishankar, Oil Minister Hardeep Singh Puri, Chemicals and Fertilizers Minister JP Nadda, Consumer Affairs Minister Prahlad Joshi, Civil Aviation Minister Kinjarapu Rammohan Naidu, Shipping Minister Sarbananda Sonowal, and Power Minister Manohar Lal.
The IGoM was informed that despite a significant global supply shock, India has maintained an adequate fuel stock position, with active efforts to ensure an uninterrupted supply, the defence ministry said in a statement.
"Currently, India has inventories of crude oil, petrol, diesel, and ATF (Aviation Turbine Fuel) sufficient for over 60 days of consumption. While LNG stocks sufficient for approximately 50 days and LPG stocks sufficient for approximately 40 days respectively are maintained, supported by domestic production," it said.
"To mitigate risks arising from heavy dependence on the Strait of Hormuz, the government has actively diversified import sources, securing crude, LNG (Liquefied Natural Gas), and LPG (Liquefied Petroleum Gas) supplies from regions including the US, Australia, and Latin America. Import requirements for April and May 2026 are largely secured, ensuring continuity of supply," it added.
Meanwhile, the defence minister also made a special mention of the Union Cabinet's approval of a proposal for the creation of 'Bharat Maritime Insurance Pool' with a sovereign guarantee of Rs 12,980 crore to facilitate continuous maritime insurance coverages.
The domestic insurance pool ensures that Indian trade continues to have access to affordable insurance for vessels carrying cargo from any international origin to Indian ports and vice versa, even when transiting volatile maritime corridors, according to the ministry.
"This important decision will ensure affordable and continuous insurance coverage for India's maritime trade, strengthening the security and stability of India's import-export operations. This is a major step towards a stronger, safer and more resilient trade ecosystem for India," Singh said.
Source: India Latest News, Breaking News Today, Top News Headlines | Times Now
