External Affairs Minister S Jaishankar on Monday said the escalating conflict in West Asia has raised concerns for India’s energy security, noting that the region remains a critical supplier of oil and gas to the country.
Making a suo motu statement in the Rajya Sabha, Jaishankar said the hostilities that began on February 28 between Israel and the United States on one side and Iran on the other have intensified, with attacks also affecting several Gulf states.
He said developments in the region are of particular concern for India because West Asia is central to the country’s energy supply chain and trade flows. The Gulf region also accounts for nearly $200 billion in annual trade with India.
Jaishankar said the government is closely monitoring the evolving situation and assessing its implications for regional stability, commercial activity and shipping routes.
The Cabinet Committee on Security met on March 1 under the chairmanship of Prime Minister Narendra Modi to review the situation, including potential disruptions to economic activity and trade.
Highlighting the broader economic stakes, Jaishankar said instability in the region could affect supply chains and maritime activity, where Indian nationals are often part of merchant shipping crews.
The minister added that the government remains committed to safeguarding India’s national interests, including energy security, while taking into account the risks and costs arising from volatile global energy markets.
He said Indian diplomacy has also supported the efforts of domestic energy enterprises navigating the evolving situation.
Jaishankar reiterated that India continues to advocate restraint and a return to dialogue and diplomacy to prevent further escalation and restore stability in the region.
