India Takes Swift Measures to Counter Middle East Crisis Impact, Says CII
Government and Industry Coordinate to Safeguard Economy
New Delhi, March 22: India is implementing swift and balanced measures to manage the economic impact of the ongoing Middle East conflict, with close coordination between the government and industry to protect supply chains, energy security, and overall economic stability, the Confederation of Indian Industry (CII) said on Sunday.CII Director General Chandrajit Banerjee stated that India entered this period of global uncertainty from a position of strength, supported by years of economic reforms and policy initiatives.
Economic Reforms Strengthen India’s Resilience
Banerjee highlighted that the government’s push under the Atmanirbhar Bharat initiative has enhanced India’s ability to withstand external shocks.“The response from both the government and industry has been quick, measured, and continuous,” he said.
He added that the government has taken decisive steps to cushion the impact of the crisis, including diversifying crude oil sourcing, maximising LPG production, supporting exports, and ensuring currency stability.
Focus on Energy Security and Self-Reliance
The situation has reinforced the need to accelerate India’s transition towards sustainable and self-reliant energy systems, Banerjee noted.He said investments in renewable energy, green hydrogen, biofuels, and energy efficiency are critical not only for climate goals but also for reducing dependence on volatile global energy markets.
Industry Adapts to Maintain Supply Chains and Jobs
Indian industry is actively responding to the evolving situation by diversifying energy sources, improving supply chain efficiency, and taking measures to protect employment.CII also stated that government support initiatives aimed at easing operational pressures on businesses have been timely and effective.
Government Outreach and Continuous Monitoring
The industry body appreciated the government’s proactive outreach to Indian nationals in the Gulf region and ongoing consular support, describing it as a sign of preparedness amid a rapidly changing regional scenario.CII said it is working closely with authorities and various sectors to monitor supply chain risks, address shortages, and provide real-time feedback.
India Confident of Navigating Ongoing Challenges
While acknowledging the challenges posed by the Middle East conflict, Banerjee expressed confidence that coordinated efforts between the government and industry will help India sustain economic momentum.He added that India has the capacity to respond effectively and safeguard its economic interests despite the evolving global situation.
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