- By Ajeet Kumar
- Mon, 11 May 2026 10:52 AM (IST)
- Source:JND
- PM Modi urges COVID-like discipline for economy.
- Conserve fuel, postpone gold purchases, foreign travel.
- Aims to save foreign exchange amid West Asia crisis.
Prime Minister Narendra Modi on Sunday urged citizens to adhere to COVID-like discipline as the West Asia crisis shows no signs of ending. He called for judicious use of fuel, postponement of gold purchases, and foreign travel, among other measures, to strengthen the economy.The Indian leader suggested reducing petrol and diesel consumption, using metro rail services in cities, carpooling, greater adoption of electric vehicles (EVs), utilising railway services for parcel movement, and working from home to conserve foreign exchange amid the ongoing crisis in West Asia.
Notably, this is the first time the Prime Minister has issued such an appeal since the US and Iran engaged in conflict. Earlier, PM Modi had called on citizens to use fuel and cooking gas judiciously but had refrained from mentioning gold purchases and foreign trips.
Why did PM Modi urge citizens to use oil and gas judiciously?
Stressing the need to save foreign exchange due to the crisis, PM Modi called for postponing the purchase of gold and foreign travel for one year. "We have to save foreign exchange by any means," he said, adding that due to the West Asia conflict, prices of petrol and fertilisers had increased significantly."When there is pressure on the supply chain, difficulties increase despite various government measures to address the situation," he said.
"That’s why, during a global crisis, keeping the country above all else, we have to take strong resolutions," he added.
Why do companies need to switch to work-from-home mode?
The work-from-home push also has a clear economic angle. If fuel prices surge due to geopolitical tensions in West Asia, reducing commuting can help cut fuel consumption and lower pressure on oil imports. During the Covid period, remote work helped India save energy costs and reduce urban transport demand.
Why are saving fuel, postponing foreign trips, and avoiding gold purchases crucial for India right now?
From India’s perspective, the message appears to be more about protecting the economy before a possible global shock hits.One of the biggest concerns is India’s foreign exchange (forex) reserves. India depends heavily on imports, especially crude oil, electronics, and industrial goods.
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When global crises push oil prices higher, India has to spend more US dollars to buy energy. This increases pressure on forex reserves and weakens the rupee against the dollar.The government’s warning against excessive gold buying is directly linked to this issue.
India is one of the world’s largest gold importers, and gold purchases are paid for in dollars. During uncertain times, people often rush to buy gold as a safe investment, but this sharply increases imports and drains forex reserves.
A weaker reserve position can hurt investor confidence and make imports more expensive.By discouraging panic spending and unnecessary imports, the government may be trying to preserve dollar reserves in case global tensions worsen further. Overall, PM Modi’s message seems aimed at safeguarding India’s economic stability, especially forex reserves, fuel security, inflation control, and the value of the rupee, at a time when global uncertainty is increasing rapidly.
(With inputs from agency)