New Delhi, May 2:
Union minister Hardeep Singh Puri on Friday said that in the face of the global supply chain disruption, triggered by the closure of the Strait of Hormuz, every country is forced to make hard choices.
Puri, however, stressed India has managed to maintain stable energy supplies and shield consumers from global price shocks despite thee disruption.
Addressing the Vibrant Gujarat Regional Conference for South Gujarat here, he said despite 60 days into energy supply disruption, India stands strong and has absorbed the global shock at the fiscal level instead of passing it on to consumers, supported by long-term planning.
The government has been monitoring the supply of crude oil, LNG, LPG, petrol, diesel and aviation fuel daily for over 60 days since the crisis began, ensuring uninterrupted availability across the country, the Petroleum and Natural Gas Minister said.
“When a global supply chain faces disruption of 20 to 30% on important routes and products, no country can be insulated from the shock. Freight costs rise, insurance costs rise, cargos are delayed, and every important country is forced to make hard choices,” Puri said in his address.