West Asia Conflict: Centre watching supply chains, consumer interests paramount, says S Jaishankar

As tensions in West Asia continue to escalate, External Affairs Minister S Jaishankar said on Monday that the interests of the country's consumers remain the government’s “overriding priority”. Speaking in both houses of Parliament -- the Lok Sabha and the Rajya Sabha -- amid sloganeering by Opposition members, the Union Minister said the ongoing crisis could trigger “serious supply chain disruption”. He noted that the regional hostilities have intensified in recent days, raising concerns over shipping lanes, energy supplies and global trade flows.

Here are 10 key takeaways from the minister's addresses in the houses:

• Jaishankar said the government is closely monitoring developments to assess their possible impact on India’s economy and supply chains. “Our government had issued a statement on February 20 expressing deep concern and urging all sides to exercise restraint,” he said, stressing that dialogue and diplomacy should be pursued to de-escalate tensions. He also said that stability in West Asia is vital for global energy markets and India’s economic welfare, and confirmed that New Delhi is engaging with international partners while tracking the situation.

• Jaishankar said multiple ministries are monitoring the evolving situation closely, including the Ministry of External Affairs, the Ministry of Petroleum, the Ministry of Civil Aviation and the Ministry of Shipping. The central government may take special measures to assist Indian citizens if the situation requires, he added.

What S Jaishankar says on Indian diaspora and safety concerns

• Jaishankar said that the safety of Indians living in the region remains a priority for the government.

• He told Parliament that about 67,000 Indian nationals have already returned from the region as tensions escalated.

• Highlighting that more than one crore Indian citizens reside in Gulf nations, Jaishankar said that the numbers are the highest in the United Arab Emirates (UAE), Saudi Arabia, Qatar, Kuwait and Oman, citing official data.

Energy security and crude imports in focus

• Jaishankar said the government is also keeping a close watch on the energy market amid the West Asia crisis. India will try to procure energy from wherever it is available at lower prices, he said. India is the world’s third-largest oil importer and imports about 85 per cent of its crude oil requirement.

• Jaishankar noted that in recent years, India has diversified its energy purchases by increasing crude imports from Russia, as well as raising supplies from African countries, the US and Latin America. The Centre’s effort, he said, is to ensure that global crises do not disrupt energy supplies and that prices remain under control.

What makes the Gulf region crucial for India

• The minister underlined that the Middle East is crucial for India for several reasons, including energy supply, the large Indian diaspora and trade relations. He said Indian expatriates in Gulf countries send billions of dollars in remittances every year, while trade between India and Gulf nations runs into hundreds of billions of dollars.

Middle East Tensions: Iranian vessel allowed to dock

• The minister also informed the House that India permitted the Iranian vessel IRIS Lavan to dock at Kochi port after Tehran requested assistance. The ship, which was among three vessels seeking entry into Indian ports, received approval on March 1 and docked on March 4. It had 183 crew members, mostly young cadets, and had developed a technical malfunction at sea. Referring to remarks he made earlier at the Raisina Dialogue, Jaishankar said the decision to allow the ship to dock was taken on humanitarian grounds.

• He also referred to the sinking of the Iranian naval vessel IRIS Dena by a US submarine in the Indian Ocean on March 4, an incident that led to more than 80 fatalities. The ship had sent a distress signal, following which India deployed naval ships and a patrol aircraft for search and rescue operations. Reaffirming the decision to assist the Iranian vessel, the minister said it was “the right thing to do”, while reiterating the need for diplomatic engagement to prevent further escalation in the region.