The former G20 Sherpa of India, Amitabh Kant, commended the Indian government for effectively managing the global energy crisis following the West Asia conflict. Kant highlighted that due to the government’s actions, consumers were shielded from price hikes and black marketing in fuels, ensuring continued access to LPG for households. One key measure was the reduction of excise duty on petrol and diesel, alongside efforts to diversify fuel supplies.
Amitabh Kant emphasized the government’s strategic response to the crisis, comparing it to the coordinated efforts seen during the Covid pandemic. Notably, India leveraged diplomatic channels, enabling the arrival of 12 Indian vessels carrying crude oil through the Strait of Hormuz. Kant described India’s handling of the energy crisis as a demonstration of vision and resilience.
India’s effective management of the energy crisis, despite being a significant importer of crude oil and LPG, was underscored by Kant. The government’s decision to slash excise duty on petrol and diesel, coupled with initiatives like the Ujjwala scheme providing LPG cylinders at subsidized rates, played a crucial role in stabilizing prices amidst global fluctuations. Additionally, measures such as the LPG control order boosted domestic production of LPG in Indian refineries.
Kant highlighted the government’s efforts to expand crude oil imports by engaging with 27 new suppliers, thereby diversifying the country’s energy sources. The LPG control order incentivized refineries to prioritize LPG production, showcasing India’s adaptability and resilience in the face of challenges. Kant also noted the enhancement of refinery production and the establishment of pipeline connections as part of the comprehensive strategy.
In response to queries about potential price reductions for petrol and diesel, Kant suggested that the situation is gradually stabilizing, albeit influenced by ongoing geopolitical tensions. He expressed optimism that prices may decrease in the future, benefiting not only India but also other emerging markets. Kant affirmed that decisions regarding fuel prices will be made in the best interest of Indian consumers and citizens, considering the evolving global scenario.
