Mumbai, May 11 (IANS). Shaktikanta Das, Principal Secretary to Prime Minister Narendra Modi and former Governor of the Reserve Bank of India, said on Monday that bioenergy and green hydrogen will be among the biggest priorities of the central government. He said that India is focusing on further strengthening its energy security and economic strength amid increasing global tensions.
Speaking at the ‘CII Annual Business Summit 2026’ held in Mumbai, Das said that the basis of India’s strength is strong economic stability. He said that despite global uncertainties, the financial position of the government and the banking system remain stable.
“The balance sheets of corporate companies are now much stronger than before, which will support new investments,” he said. He also stressed that the government is fully committed to reforms and there is no laxity in this matter.
However, Das warned that rising tensions between the US and Iran and supply chain disruptions will continue to impose huge costs on the world’s economies.
His comment has come at a time when a day earlier Prime Minister Narendra Modi had appealed to the countrymen to adopt several steps to reduce the economic impact of the ongoing tension in West Asia.
Prime Minister Modi had asked people to work from home where possible, avoid non-essential gold purchases and avoid traveling abroad for a year.
He also appealed to the citizens to reduce the use of edible oil, foreign products and chemical fertilizers.
These measures are being seen as a major strategy to preserve India’s foreign exchange reserves and reduce pressure on fuel imports, especially at a time when the global energy market remains highly volatile.
Meanwhile, Defense Minister Rajnath Singh also told people that there is no need to panic. He said the government is taking ‘concrete steps’ to reduce the impact of the current global situation.
Rajnath Singh on Monday chaired the fifth meeting of the Informal Empowered Group of Ministers. In the meeting, the threat to the energy supply chain and the availability of essential commodities in the country due to the ongoing conflict in West Asia was reviewed.
–IANS
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