NEW DELHI: Recognising the “significant impact” of the conflict in West Asia on the global economy and its effect on India, the cabinet committee on security led by PM Narendra Modi on Sunday discussed steps to diversify the sources of import of chemicals, pharma, petrochemicals and other industrial sectors, while drawing comfort from the stock of fertiliser and coal.”We had extensive discussions on short-, medium- and long-term measures, including ensuring continued availability of fertilisers for farmers, diversifying import sources for key sectors, promoting exports to new destinations and more. We are committed to safeguarding our citizens from the impact of the conflict,” the PM posted on X after the meeting of the panel comprising the home, defence, finance and external affairs ministers.Israel Iran WarUS-Israel-Iran War News Live Updates: Iran vows tit-for-tat strike after Trump’s 48hr ultimatum, threatens to hit US-Israel energy facilityWatch: Missile strike rocks Israel’s ‘Little India’ as Iran attack injures over 40; videos show chaosOver 100 injured in Israel amid Iran’s missile attack; Netanyahu calls it ‘difficult evening in battle for future’ Watch Narendra Modi Reviews Energy Security As Middle East Crisis Deepens The assessment was that there may not be a significant domestic impact in the immediate term, but there was a need to prepare for the medium and long term. Currently, the challenge before policymakers is that there is no clarity on when and how the conflict will end.”The ongoing conflict in West Asia will have significant short-, medium- and long-term impact on the global economy and its effect on India were assessed and counter-measures, both immediate and long-term, were discussed,” an official statement said.Sunday’s meeting was also attended by other ministers, including of agriculture, health, chemicals, power, shipping, civil aviation, commerce & industry, I&B, food & civil supplies and railways.While Modi has been holding talks with his counterparts from other countries, particularly those in the Gulf region – home to a large Indian diaspora and the source of a large chunk of energy imports – this was the first meeting at the level of CCS to work out a strategy with an assessment that the impact of the conflict is going to last for some time.The PM has suggested a dedicated group of ministers and a panel of secretaries to deal with the issue, with detailed stakeholder consultations lined up through sectoral groups. He has also asked the Centre to coordinate with states to check black-marketing and hoarding.”PM said that the conflict is an evolving situation and the entire world is affected in some form. In such a situation, all efforts must be made to safeguard citizens from the impact of this conflict. PM instructed that all arms of govt work together to ensure least inconvenience to citizens,” an official statement said.It added that several measures proposed by different ministries would be prepared and implemented in the coming days.At the meeting, cabinet secretary TV Somanathan made a presentation on the global situation, and the mitigation measures taken so far and those being planned by different departments. “The expected impact and measures taken to address it across sectors like agriculture, fertilisers, food security, petroleum, power, MSMEs, exporters, shipping, trade, finance, supply chains and all affected sectors were discussed. The overall macro-economic scenario in the country and further measures to be taken were also discussed,” the statement said.End of ArticleFollow Us On Social MediaVideosPakistan Tops Global Terrorism Index With Highest Death Toll, Raises Global Alarm‘Was Tortured’: Wife Of Deceased PWC Official Seeks Bhullar’s Arrest Before Post-MortemSanjay Raut Fires ‘Jhola Uthaiye’ Salvo At Narendra Modi Over inflation, Rupee CrashFirst China-Bound Russian Oil Tanker Reaches India After US Sanctions WaiverNarendra Modi Reviews Energy Security As Middle East Crisis Deepens8931 Days In Office: PM Modi Becomes Longest-Serving Head Of Govt Overtaking Pawan Kumar Chamling‘Zelenskyy Regime Core Exporter Of Instability’: Russia Reacts To NIA Arrest Of Ukrainians In India‘Selective Narrative’: 275 Ex-Officials, Judges Slam USCIRF Over ‘Disturbing’ Report On IndiaLPG Tanker ‘Pyxis Pioneer’ With Over 47,000 Tonnes Of Fuel From US Arrives At New Mangalore PortSeveral Injured In Dimona As Iranian Missile Hits Israel’s ‘Little India’; Videos Show Chaos123Photostories5 nutrient-rich vegetable peels you should never throw awayHow to make Dhaba-style Paneer Butter Masala at homeIn pics: India’s sea-based deterrent triad – INS Arihant, Arighaat & AridhamanTV friendships that defined a generation: From ‘Friends’ to ‘The Big Bang Theory,’ the bonds we never got overTOISA 2025 winner list (part 1): Mithali Raj, Shubman Gill, Harmanpreet Kaur, and more win bigConstant urge to pee but little output? 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NEW DELHI: Recognising the “significant impact” of the conflict in West Asia on the global economy and its effect on India, the cabinet committee on security led by PM Narendra Modi on Sunday discussed steps to diversify the sources of import of chemicals, pharma, petrochemicals and other industrial sectors, while drawing comfort from the stock…
