Modi Urges Indians to Conserve Fuel as Oil Shock Spreads

AI Summary

Indian Prime Minister Modi has urged citizens to conserve fuel in response to an escalating oil crisis. His call to reduce travel and fertilizer use is part of a broader effort to manage foreign exchange expenses amidst rising oil prices.

India’s Prime Minister called on the nation to work from home, travel less, and conserve fuel to help the government save foreign exchange. “In the current situation, we must place great emphasis on saving foreign exchange,” Narendra Modi said, as quoted by Reuters. The prime minister also urged Indians to stop buying gold, again to conserve foreign exchange. Modi also called on farmers to reduce their fertilizer use by as much as 50%. CNBC recalls that India spent $174.9 billion on crude oil and refined product imports in the…