Prime Minister Narendra Modi on Monday (May 11) reiterated his appeal to citizens to adopt austerity measures to reduce pressure on India’s economy amid rising tensions in West Asia, urging people to conserve fuel, avoid unnecessary imports and reduce spending involving foreign exchange.&nbsp;Addressing a gathering in Vadodara, Gujarat, Modi said the world continues to face prolonged instability following the COVID-19 pandemic, with the ongoing conflict in West Asia emerging as “one of the major crises of this decade”.&nbsp;“If the COVID pandemic was the biggest crisis of this century, then the circumstances created by the war in West Asia are one of the major crises of this decade. When we came together to overcome the challenge of COVID, we will surely get through this crisis as well. The government is also continuously making efforts to ensure that its impact on the people of the country is minimal,” he said.&nbsp;

<blockquote class="twitter-tweet"><a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Gujarat: Prime Minister Narendra Modi says, &quot;... I appeal to every citizen of my country to reduce the use of petrol-diesel as much as possible. Use the metro, make greater use of electric buses and public transport, and promote carpooling. Those who have a car should… <a href="https://t.co/85GGOgBh2W">pic.twitter.com/85GGOgBh2W</a>&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/2053849370714579128?ref_src=twsrc%5Etfw">May 11, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

The Prime Minister urged citizens to reduce petrol and diesel consumption by using public transport, electric buses and carpooling. He also encouraged virtual meetings and work-from-home practices in both government and private offices to help reduce fuel consumption.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/-no-need-to-panic-govt-says-pm-modi-s-appeal-aimed-at-collective-participation-fuel-stocks-sufficient-1778508052235">‘No need to panic’: Govt says PM Modi’s appeal aimed at collective participation, fuel stocks sufficient</a>&nbsp;“Those who have a car should take more people along in one vehicle. Digital technology has now made so many things easy that technology's assistance will also be very beneficial for us. It is essential that priority be given to virtual meetings and work from home in both government and private offices,” Modi said.<h2>PM calls for reduced imports, postponement of gold purchases</h2>The Prime Minister also appealed to people to postpone gold purchases and prioritise locally made products to help reduce India’s import burden and conserve foreign exchange reserves.&nbsp;“A huge amount of the country's money also goes abroad on gold imports. Therefore, I would urge all of you, my fellow countrymen, to postpone the purchase of gold until the situation returns to normal. Today, the need of the hour is that we turn ‘Vocal for Local’ into a people's movement. Instead of foreign goods, adopt local products,” he said.&nbsp;Calling for collective efforts to reduce dependence on imports, Modi said every small contribution from citizens would help the country navigate global economic disruptions and rising prices caused by international conflicts.

PM Modi stressed that his government is working to ensure minimal disruption to citizens' lives amid global crises and described the West Asia conflict as “one of the major crises of this decade”.

Prime Minister Narendra Modi on Monday (May 11) reiterated his appeal to citizens to adopt austerity measures to reduce pressure on India’s economy amid rising tensions in West Asia, urging people to conserve fuel, avoid unnecessary imports and reduce spending involving foreign exchange. Addressing a gathering in Vadodara, Gujarat, Modi said the world continues to face prolonged instability following the COVID-19 pandemic, with the ongoing conflict in West Asia emerging as “one of the major crises of this decade”. “If the COVID pandemic was the biggest crisis of this century, then the circumstances created by the war in West Asia are one of the major crises of this decade. When we came together to overcome the challenge of COVID, we will surely get through this crisis as well. The government is also continuously making efforts to ensure that its impact on the people of the country is minimal,” he said.

PM Modi stressed that his government is working to ensure minimal disruption to citizens' lives amid global crises and described the West Asia conflict as “one of the major crises of this decade”.

Use public transport, adopt WFH: PM Modi reiterates austerity appeal amid oil crisis

Following Prime Minister Narendra Modi’s recent appeal to citizens to support the country during the ongoing West Asia crisis, a senior official from the Ministry of Information and Broadcasting on Monday (May 11) clarified that the message was intended to encourage “collective participation” in dealing with global economic challenges.&nbsp;Addressing reporters after an inter-ministerial meeting in New Delhi, C Senthil Rajan, Joint Secretary in the Ministry of Information and Broadcasting, explained the purpose behind the Prime Minister’s remarks.&nbsp;Rajan said, “Prime Minister, in his speech in Hyderabad, has called for a collective participation to help India face global economic disruptions, supply chain challenges, and rising prices caused by international conflicts. He has emphasised the need for citizens to live responsibly and fulfil their duties towards the country during difficult times. The idea is for optimum and efficient utilisation of the available resources. And we request all of you to kindly report the spirit in which he has made this appeal.”&nbsp;He also assured that India currently has adequate supplies of essential resources and said the Prime Minister’s suggestions, including promoting domestic tourism and postponing non-essential purchases, were aimed at strengthening the economy during uncertain global conditions.&nbsp;Also Read: <a href="https://www.wionews.com/world/uk-mp-catherine-west-sends-out-letters-to-seek-labour-support-to-replace-keir-starmer-after-election-setback-1778503786769">UK MP Catherine West sends out letters to seek Labour support to replace Keir Starmer after election setback</a>&nbsp;“The Prime Minister has just made this appeal in the spirit that we actually take steps to efficiently utilise whatever is available. Just to repeat again what he said, he has appealed to citizens to help conserve foreign exchange reserves by avoiding unnecessary foreign travel, overseas vacations, and foreign weddings; choosing domestic tourism and celebrations within India,” Rajan added.<h2> Govt assures strong energy security amid global uncertainty</h2>The Informal Group of Ministers (IoGM) also held its fifth meeting on Monday, during which the government reviewed India’s preparedness amid international volatility and stressed that the country’s energy security remains strong.&nbsp;The meeting, chaired by Defence Minister Rajnath Singh, focused on developing a strategy that combines long-term planning with public participation, similar to the collective approach seen during the COVID-19 pandemic.&nbsp;According to a statement issued by the Ministry of Defence, “The IGoM was informed that the country is secure, and there is no shortage of any petroleum product, even as most other nations have taken emergency measures to dramatically reduce domestic consumption. India has 60 days of crude oil, 60 days of Natural Gas and 45 days of LPG rolling stock. The foreign exchange reserves stand at a comfortable $703 billion.”&nbsp;The ministry further said that India remains the world’s third-largest oil refiner and the fourth-largest exporter of petroleum products, supplying fuel to more than 150 countries while fully meeting domestic demand.

The I&B official assured that India has sufficient supplies of essential resources, including fuel, and clarified that the Prime Minister’s suggestions were aimed at encouraging collective participation by citizens amid the ongoing West Asia crisis.

Following Prime Minister Narendra Modi’s recent appeal to citizens to support the country during the ongoing West Asia crisis, a senior official from the Ministry of Information and Broadcasting on Monday (May 11) clarified that the message was intended to encourage “collective participation” in dealing with global economic challenges. Addressing reporters after an inter-ministerial meeting in New Delhi, C Senthil Rajan, Joint Secretary in the Ministry of Information and Broadcasting, explained the purpose behind the Prime Minister’s remarks. Rajan said, “Prime Minister, in his speech in Hyderabad, has called for a collective participation to help India face global economic disruptions, supply chain challenges, and rising prices caused by international conflicts. He has emphasised the need for citizens to live responsibly and fulfil their duties towards the country during difficult times. The idea is for optimum and efficient utilisation of the available resources. And we request all of you to kindly report the spirit in which he has made this appeal.” He also assured that India currently has adequate supplies of essential resources and said the Prime Minister’s suggestions, including promoting domestic tourism and postponing non-essential purchases, were aimed at strengthening the economy during uncertain global conditions. Also Read: UK MP Catherine West sends out letters to seek Labour support to replace Keir Starmer after election setback “The Prime Minister has just made this appeal in the spirit that we actually take steps to efficiently utilise whatever is available. Just to repeat again what he said, he has appealed to citizens to help conserve foreign exchange reserves by avoiding unnecessary foreign travel, overseas vacations, and foreign weddings; choosing domestic tourism and celebrations within India,” Rajan added. Govt assures strong energy security amid global uncertainty The Informal Group of Ministers (IoGM) also held its fifth meeting on Monday, during which the government reviewed India’s preparedness amid international volatility and stressed that the country’s energy security remains strong. The meeting, chaired by Defence Minister Rajnath Singh, focused on developing a strategy that combines long-term planning with public participation, similar to the collective approach seen during the COVID-19 pandemic. According to a statement issued by the Ministry of Defence, “The IGoM was informed that the country is secure, and there is no shortage of any petroleum product, even as most other nations have taken emergency measures to dramatically reduce domestic consumption. India has 60 days of crude oil, 60 days of Natural Gas and 45 days of LPG rolling stock. The foreign exchange reserves stand at a comfortable $703 billion.” The ministry further said that India remains the world’s third-largest oil refiner and the fourth-largest exporter of petroleum products, supplying fuel to more than 150 countries while fully meeting domestic demand.

The I&amp;B official assured that India has sufficient supplies of essential resources, including fuel, and clarified that the Prime Minister’s suggestions were aimed at encouraging collective participation by citizens amid the ongoing West Asia crisis.

‘No need to panic’: Govt says PM Modi’s appeal aimed at collective participation, fuel stocks sufficient

Prime Minister Narendra Modi on Sunday directed people to help the nation conserve petrol, diesel and foreign exchange reserves by using public transport, avoiding unnecessary foreign travel and the use of non-essential gold purchases. PM Modi's appeal came while addressing a BJP rally in Hyderabad as US President Donald Trump rejected the latest peace proposals of Iran, resulting in rise of a global crude oil prices to more than $105 a barrel and intensifying concerns over inflation and energy security worldwide. The escalating tension in West Asia has kept the Strait of Hormuz, one of the world’s most critical oil shipping routes, disrupted for weeks, prompting fears of a prolonged crisis in the supply chain.<h3>Why does PM Modi appeals citizens to avoid buying gold?</h3>PM Modi on Sunday also appealed to citizens to avoid buying gold for at least one year, claiming that gold imports put additional pressure on India’s foreign exchange reserves amid a global crisis. India is one of the largest importers of gold in the world, where its demand rises exponentially during weddings and festive seasons.&nbsp;India consumes an estimated 700 to 800 tonnes of gold annually, accounting for nearly 9 per cent of its total import bill, after crude oil. The rise in gold demand led to the import of the item in large amounts, which put pressure on India's currency as it increased dollar outflow and widened the country’s import bill.<h3>How does gold affect India's economy?</h3>As we know, gold influences the strength of a currency. When a large amount of gold is imported, it increases dollar demand and weakens the Indian currency, as gold shapes money in more ways than most people think of it. Gold in India is considered a cultural symbol, a store of value and a silent indicator of economic stability.&nbsp;&nbsp;The best part of the item is that, despite modern economies which run on digital systems and complex policies, gold still decides how strong or weak a currency is. The import behaviour of gold directly affects the currency. When gold prices rise at the global level, the import bill of the item rises too, increasing the outflow of foreign exchange money from the country. If this outflow grows and exceeds more than required, it can put heavy pressure on the currency and may lead to depreciation.<h3>Here are some of the major areas impacted by rising gold imports in India:</h3><h3>1. Huge Drain on Foreign Exchange Reserves</h3>India is the world’s second-largest consumer of gold, yet it depends almost entirely on imports to meet demand. Since gold purchases are made in US dollars, large-scale imports lead to a significant outflow of foreign currency. The issue has become more significant as India’s foreign exchange reserves, which had risen close to $728.49 billion, have experienced volatility and declined toward the $690.69 billion mark due to increasing import costs and currency-related pressures. A weaker rupee further raises the domestic cost of imports, particularly crude oil and gold, increasing the country’s external economic vulnerabilities. Every increase in gold imports puts additional pressure on the Reserve Bank of India’s foreign exchange reserves, which are also required for critical imports such as crude oil.<h3>2. Increasing Pressure on the Indian Rupee</h3>Strong demand for US dollars to finance gold imports has added strain on the Indian rupee, which has fallen to historic lows. As of May 11, 2026, the rupee was trading near Rs 95.25 against the US dollar. To import gold, Indian buyers exchange rupees for dollars, increasing the supply of rupees in the market and weakening their value. A weaker rupee raises the cost of other imported goods, including fuel, electronics, and medicines. Over the past few years, the rupee has depreciated significantly—from around Rs 74–75 per dollar in 2021 to below Rs 95 in 2026, marking a decline of nearly 27–28 per cent. The pressure has intensified amid rising crude oil prices, tensions in the Middle East, and higher dollar outflows linked to imports and uncertainty over global energy supply routes.<h3>3. Trade and Current Account Deficit (CAD)</h3>A trade deficit occurs when a country’s imports exceed the value of its exports. In FY26, India’s trade deficit climbed to $333.2 billion. The Reserve Bank of India (RBI)'s data indicates that India's CAD stood at $13.2 billion, or 1.3 per cent of GDP, in the October-December quarter of FY26, compared to $11.5 billion in the last quarter. Precious metals such as gold and silver now make up over 5 per cent of the country’s total imports. By reducing gold purchases, the government aims to shrink this deficit, which could help stabilise and strengthen the Indian rupee.&nbsp;Also read:<a href="https://www.wionews.com/india-news/watch-pm-modi-attends-thrilling-iaf-surya-kiran-airshow-at-somnath-temple-celebrations-1778482456792"> WATCH: PM Modi attends thrilling IAF Surya Kiran airshow at Somnath Temple celebrations</a>

PM Modi has urged citizens to avoid gold purchases and unnecessary travel to protect foreign reserves. High gold demand drains dollars, weakens the Rupee, and widens the trade deficit, threatening economic stability.

Prime Minister Narendra Modi on Sunday directed people to help the nation conserve petrol, diesel and foreign exchange reserves by using public transport, avoiding unnecessary foreign travel and the use of non-essential gold purchases. PM Modi's appeal came while addressing a BJP rally in Hyderabad as US President Donald Trump rejected the latest peace proposals of Iran, resulting in rise of a global crude oil prices to more than $105 a barrel and intensifying concerns over inflation and energy security worldwide. The escalating tension in West Asia has kept the Strait of Hormuz, one of the world’s most critical oil shipping routes, disrupted for weeks, prompting fears of a prolonged crisis in the supply chain. Why does PM Modi appeals citizens to avoid buying gold? PM Modi on Sunday also appealed to citizens to avoid buying gold for at least one year, claiming that gold imports put additional pressure on India’s foreign exchange reserves amid a global crisis. India is one of the largest importers of gold in the world, where its demand rises exponentially during weddings and festive seasons. India consumes an estimated 700 to 800 tonnes of gold annually, accounting for nearly 9 per cent of its total import bill, after crude oil. The rise in gold demand led to the import of the item in large amounts, which put pressure on India's currency as it increased dollar outflow and widened the country’s import bill. How does gold affect India's economy? As we know, gold influences the strength of a currency. When a large amount of gold is imported, it increases dollar demand and weakens the Indian currency, as gold shapes money in more ways than most people think of it. Gold in India is considered a cultural symbol, a store of value and a silent indicator of economic stability. The best part of the item is that, despite modern economies which run on digital systems and complex policies, gold still decides how strong or weak a currency is. The import behaviour of gold directly affects the currency. When gold prices rise at the global level, the import bill of the item rises too, increasing the outflow of foreign exchange money from the country. If this outflow grows and exceeds more than required, it can put heavy pressure on the currency and may lead to depreciation. Here are some of the major areas impacted by rising gold imports in India: 1. Huge Drain on Foreign Exchange Reserves India is the world’s second-largest consumer of gold, yet it depends almost entirely on imports to meet demand. Since gold purchases are made in US dollars, large-scale imports lead to a significant outflow of foreign currency. The issue has become more significant as India’s foreign exchange reserves, which had risen close to $728.49 billion, have experienced volatility and declined toward the $690.69 billion mark due to increasing import costs and currency-related pressures. A weaker rupee further raises the domestic cost of imports, particularly crude oil and gold, increasing the country’s external economic vulnerabilities. Every increase in gold imports puts additional pressure on the Reserve Bank of India’s foreign exchange reserves, which are also required for critical imports such as crude oil. 2. Increasing Pressure on the Indian Rupee Strong demand for US dollars to finance gold imports has added strain on the Indian rupee, which has fallen to historic lows. As of May 11, 2026, the rupee was trading near Rs 95.25 against the US dollar. To import gold, Indian buyers exchange rupees for dollars, increasing the supply of rupees in the market and weakening their value. A weaker rupee raises the cost of other imported goods, including fuel, electronics, and medicines. Over the past few years, the rupee has depreciated significantly—from around Rs 74–75 per dollar in 2021 to below Rs 95 in 2026, marking a decline of nearly 27–28 per cent. The pressure has intensified amid rising crude oil prices, tensions in the Middle East, and higher dollar outflows linked to imports and uncertainty over global energy supply routes. 3. Trade and Current Account Deficit (CAD) A trade deficit occurs when a country’s imports exceed the value of its exports. In FY26, India’s trade deficit climbed to $333.2 billion. The Reserve Bank of India (RBI)'s data indicates that India's CAD stood at $13.2 billion, or 1.3 per cent of GDP, in the October-December quarter of FY26, compared to $11.5 billion in the last quarter. Precious metals such as gold and silver now make up over 5 per cent of the country’s total imports. By reducing gold purchases, the government aims to shrink this deficit, which could help stabilise and strengthen the Indian rupee. Also read: WATCH: PM Modi attends thrilling IAF Surya Kiran airshow at Somnath Temple celebrations

PM Modi has urged citizens to avoid gold purchases and unnecessary travel to protect foreign reserves. High gold demand drains dollars, weakens the Rupee, and widens the trade deficit, threatening economic stability.

Why PM Modi asked Indians not to buy gold for a year? WION explains

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Use public transport, adopt WFH: PM Modi reiterates austerity appeal amid oil crisis

‘No need to panic’: Govt says PM Modi’s appeal aimed at collective participation

Why PM Modi asked Indians not to buy gold for a year? WION explains