India seeks energy security as Iran-Israel tensions disrupt global oil supply routes.
Modi foreign tour
Prime Minister Narendra Modi has started a crucial five-day foreign tour amid rising global oil tensions caused by the Iran-Israel conflict and fears over the closure of the Strait of Hormuz. Beginning in the United Arab Emirates, Modi will also visit the Netherlands, Sweden, Norway, and Italy.
As India depends on imports for more than 85 percent of its oil needs, fuel prices have already increased by ₹3 per litre. Therefore, Modi’s Abu Dhabi visit is expected to focus heavily on energy security and stable oil supplies. During the visit, he will hold key discussions with the UAE President regarding crude oil, LNG agreements, and strategic petroleum reserves.
Moreover, India plans to build two new petroleum storage facilities with a combined capacity of 6.5 MMT, and UAE support remains important for the project. Since the UAE now has greater freedom to increase oil production, it could emerge as a reliable energy partner for India. Also, both countries are trying to boost bilateral trade to $200 billion.
Modi foreign tour
