Prime Minister Narendra Modi inspecting the Guard of Honour during the 80th Independence Day celebrations at the Red Fort in New Delhi on Saturday, August 15, 2026
| Photo Credit: Sushil Kumar Verma
Prime Minister Narendra Modi on Saturday (August 15, 2026) warned that the weaponisation of resources and strategic sea routes by some countries posed risks to India's economic security, calling for greater self-reliance in energy to reduce the country's vulnerability to overseas supplies.Addressing the nation from the ramparts of the Red Fort on India's 80th Independence Day, Mr. Modi said India needed to strengthen domestic capacity in critical areas, including energy and minerals, as geopolitical tensions increasingly exposed the risks of dependence on external sources.Without naming any country, Mr. Modi said resources ranging from fuel and medicines to technology were increasingly being used as instruments of geopolitical pressure, while strategic geographical routes were also being weaponised.His remarks come against the backdrop of the U.S.-Israeli war with Iran and Tehran's retaliation, which has severely disrupted shipping through the Strait of Hormuz, a key conduit for global energy supplies.The narrow waterway between Iran and Oman handled about 20 million barrels per day of oil and petroleum products in 2025, equivalent to roughly a quarter of global seaborne oil trade, according to the International Energy Agency. It also carried almost 20% of global LNG trade, leaving major Asian importers particularly exposed to any prolonged disruption.The conflict has sharply reduced maritime traffic through the strait and pushed up energy and shipping costs. Renewed tanker attacks have stalled efforts to resolve the conflict.For India, the disruption has highlighted the risks posed by its dependence on imported energy. The country has had to seek alternative LNG supplies from countries including Oman, the United States, Nigeria and Angola after uncertainty over Gulf shipments, while Indian refiners have also moved to diversify crude purchases.India has already broadened its energy sourcing, importing crude from 41 countries and LNG from 15, up from 27 and six respectively, as New Delhi seeks to insulate the economy from geopolitical shocks.The Strait of Hormuz is particularly important to India because much of the energy passing through it is bound for Asia. The IEA estimates that India received nearly half of its crude oil that transited the strait in 2025. It also obtained almost two-thirds of its LNG supplies through the waterway.Modi on becoming self-reliant in energyMr. Modi said the geopolitical conflicts have underscored the importance of becoming self-reliant in energy.India, which imports nearly 90% of its crude oil requirements and about half of its natural gas needs, is seeking to tap its largely underexplored offshore reserves as part of a broader push to strengthen energy security, he said, citing the recently approved the ₹84,084-crore Samudra Manthan National Offshore Exploration Scheme, aimed at accelerating exploration for oil and gas in deepwater and ultra-deepwater areas over the next five years.The programme will support seismic surveys, exploratory drilling and shared offshore infrastructure, with the government seeking to attract greater investment and technology into India's offshore basins.Mr. Modi said the government has also opened up 99% of India's sedimentary basins for oil and gas exploration and production, expanding access to areas that were previously largely off-limits to commercial exploration. The move is intended to unlock domestic hydrocarbon resources and reduce India's exposure to global energy-price and supply shocks.The Prime Minister went on to list achievements of his government in the last 12 years - expansion of piped cooking gas coverage from 70 cities to 700 cities, with the fuel - an alternate to LPG which is largely imported from the West Asia - now being supplied to 1.75 crore households as against 22 lakh in 2014.Also, generation of electricity from the sun's solar energy has jumped to 160 gigawatt from 2 gigawatt a decade back, he said.Energy security has emerged as a central element of Mr. Modi's broader push for an "Atmanirbhar Bharat", or self-reliant India. The government has also sought to expand domestic exploration of critical minerals and increase the role of nuclear power and other non-fossil energy sources.In 2024-25, crude oil imports were valued at about $137 billion, while petroleum products and LNG imports were worth $24 billion and $15 billion respectively. Published - August 15, 2026 09:25 am IST
