Amidst the rising geopolitical tensions and fears of a global energy shock, Prime Minister Narendra Modi assured the nation today that India is well-prepared to handle any fuel supply disruptions. Addressing the Lok Sabha, the Prime Minister highlighted the nation’s robust strategic preparedness, revealing that India currently holds a strategic petroleum reserve (SPR) of over 53 lakh metric tonnes (5.33 million metric tonnes) of crude oil.

PM Modi emphasized that energy security has been a top priority for his government over the last decade. He noted that India has significantly expanded its sourcing network to mitigate risks. “Earlier, we were importing oil from 27 countries; today, our reach has extended to 41 nations,” he stated. This diversification ensures that India is not overly dependent on any single region, such as the volatile Middle East.

Looking ahead, the Prime Minister shared that the government is already working on Phase II of the SPR program, which aims to add another 6.5 million metric tonnes of storage capacity at Chandikhol in Odisha and Padur in Karnataka. With the current reserves capable of sustaining the country during emergencies, PM Modi’s announcement serves as a strong signal of India’s economic resilience and its proactive approach to safeguarding national interests against global volatility.