Classic fear-mongering, should stop selling panic: BJP slams Rahul Gandhi over ‘economic tsunami’ remark
Despite facing multiple black swan events, India has continued to remain the world’s fastest-growing major economy, Amit Malviya said.
Highlighting the country’s heavy reliance on oil shipments passing through the Strait of Hormuz, he warned of significant risks to India’s energy security.
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Senior Congress leader Rahul Gandhi expressed serious concerns on Thursday over potential disruptions to India’s energy supplies due to escalating geopolitical tensions in the region.
Highlighting the country’s heavy reliance on oil shipments passing through the Strait of Hormuz, he warned of significant risks to India’s energy security. In a post on X, Rahul Gandhi described the global situation as entering a volatile phase and urged the government to provide decisive leadership.
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He pointed out that over 40% of India’s oil imports transit the Strait of Hormuz, with even greater dependency for LPG and LNG supplies, making the country vulnerable if tensions worsen.
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He cited recent regional developments, including the sinking of an Iranian warship in the Indian Ocean to criticize Prime Minister Narendra Modi for remaining silent on these issues.
The Congress leader, who is also the leader of the Opposition in the Lok Sabha, argued that stable and strong leadership is essential during such uncertain times, accusing the Prime Minister of compromising India’s strategic autonomy.
Rahul’s comments came against the backdrop of rising tensions in West Asia and growing concerns about the security of critical maritime trade routes that facilitate global energy supplies. The Strait of Hormuz is a key chokepoint for crude oil and liquefied natural gas shipments worldwide, and disruptions there could impact supply chains, prices, and energy stability for dependent countries like India.
India, one of the largest energy importers globally, depends heavily on Gulf region oil and gas, making the safeguarding of these shipping lanes crucial. Historically, New Delhi has emphasized the need for stability in international shipping routes and has pursued diversified energy sources to mitigate risks from geopolitical uncertainties.
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