What specific measures did Prime Minister Modi propose to conserve foreign exchange amid rising global energy prices?

Prime Minister Modi urged fuel conservation through work-from-home and online meetings, using public transport like the metro and carpooling; avoiding non-essential overseas travel for at least a year; reducing gold purchases—especially during weddings; cutting cooking oil consumption for health and patriotic reasons; and asking farmers to reduce fertilizer use by up to half.

Why did Modi emphasize saving foreign exchange, and what economic context prompted his appeal?

Modi emphasized saving foreign exchange because a surge in global energy prices is putting pressure on India's foreign exchange reserves; India is the world's third-biggest oil importer and consumer, and although global fuel prices have risen sharply, the government recently stated there was no proposal to raise domestic diesel and gasoline pump prices—leaving India among the countries yet to implement such hikes.

Modi urges limits on fuel use, travel and imports to save forex

May 10, 2026

Indian PM Modi urged fuel conservation, reduced imports, and cuts in fertilizer and cooking oil usage to preserve foreign exchange reserves amid surging global energy costs.

reuters

2026-05-10

Modi urges limits on fuel use, travel and imports to save forex

Modi urges limits on fuel use, travel and imports to save forex

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