PM Modi chairs CCS meet on Iran crisis; key takeaways as oil, supply concerns rise

Prime Minister Narendra Modi on Wednesday, April 1, chaired a high-level meeting of the Cabinet Committee on Security (CCS) in New Delhi, marking the second such review in less than 10 days as the West Asia crisis deepens following the Iran war. The meeting comes amid rising global oil prices, fresh disruptions to shipping lanes, and growing concerns over energy and supply chains. With Brent crude crossing $100 per barrel and more than 20 ships reportedly attacked in the region, the government assessed India’s preparedness - including a 60-day crude oil buffer, stable fuel prices, and contingency plans to shield citizens and industries from immediate shocks. The urgency of the situation has forced back-to-back high-level reviews. The previous CCS meeting on March 22 had already flagged the conflict’s potential to impact India’s economy in the short, medium and long term.

Officials reviewed how the war - triggered after US-Israeli strikes on Iran on February 28 - continues to evolve unpredictably. The government’s approach remains a “whole-of-government” strategy, with multiple ministries coordinating on energy, trade, fertilisers, agriculture and logistics. The CCS also revisited earlier directives, including the creation of dedicated groups of ministers and secretaries to monitor the crisis in real time.

60-day oil buffer, prices steady despite crude crossing $100

One of the key reassurances from the government is India’s energy preparedness. Officials confirmed that India currently has enough crude oil supply for around 60 days, with total storage capacity extending up to 74 days when strategic reserves are included. Refineries are operating at peak capacity, ensuring no immediate disruption.

Despite global crude prices crossing the $100 mark, petrol and diesel prices in India remain unchanged. The government has relied on excise duty cuts and calibrated pricing to protect domestic consumers from volatility. Liquefied petroleum gas (LPG) supplies also remain stable, even as international benchmark prices have surged sharply from $522 to $780.

Over 20 ships attacked, 1,900 stranded: Maritime risks rise

The conflict has significantly impacted global shipping routes. According to Navy Chief Admiral D K Tripathi, over 20 ships have been attacked, while nearly 1,900 vessels remain stranded in the region. These disruptions have raised concerns about trade flows, insurance costs and delivery timelines for key imports.

India has emphasised the need to keep sea lanes open and secure, especially for energy shipments. The government also confirmed that all Indian seafarers in the region are safe and being closely monitored.

Aviation fuel up 8.5%, airfares set to rise

The ripple effects of the crisis are already visible in aviation. After aviation turbine fuel (ATF) prices were increased by 8.5 per cent, airline major IndiGo announced a revision in fuel charges. The new fares will apply to bookings made from April 2.

While the government has attempted to cushion the impact, higher fuel costs are expected to gradually push up ticket prices, particularly on longer domestic routes.

India evacuates 1,171 citizens; Diplomatic outreach intensifies

On the diplomatic front, India has stepped up engagement with global partners while prioritising citizen safety. The Ministry of External Affairs said 1,171 Indian nationals have been evacuated from Iran, including 818 students who exited via land borders into Armenia and Azerbaijan.

India has also held discussions with multiple countries to push for de-escalation. The government reiterated its position against attacks on critical infrastructure, especially energy facilities, warning that such actions disrupt global supply chains.

No shortage, no lockdown: Govt counters panic

Amid rising uncertainty, the government moved to quell public anxiety. Officials stressed that there is no shortage of fuel, fertilisers, food or essential commodities, and warned against panic buying. Rumours of a potential lockdown were also dismissed as baseless.

Authorities said coordination with state governments is ongoing to prevent hoarding and black-marketing, ensuring stable supplies across the country.

Political heat rises as Opposition questions govt

The West Asia crisis has also triggered sharp exchanges in Parliament. Leader of Opposition Mallikarjun Kharge questioned the government’s handling of the situation and demanded a detailed discussion. Parliamentary Affairs Minister Kiren Rijiju hit back, accusing the Opposition of politicising a sensitive national issue. The government has maintained that national unity is crucial given the global nature of the crisis.