India’s Prime Minister Narendra Modi has directed a 50% reduction in the size of his official motorcade in a bid to conserve fuel amid mounting economic pressures from the ongoing global energy crisis.
The cuts to Modi’s security convoy, which typically spans 15 to 25 vehicles, will be coordinated through the Special Protection Group (SPG) to ensure that essential security components remain fully uncompromised.
Modi has also instructed the SPG to integrate Electric Vehicles (EVs) into his official motorcade wherever feasible as part of ongoing austerity and fuel conservation push.
India imports 85% of its total crude oil needs, making it one of the largest oil consumers globally. The country consumes roughly 5.5 million barrels of crude oil per day, with Russia accounting for more than one-third of India’s total crude import volume.
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Roughly 70% of India’s crude oil imports are now routed outside the Strait of Hormuz to bypass regional shipping conflicts, a significant increase from the previous baseline of approximately 55% before the crisis. India is currently sourcing crude from over 40 countries, reducing its reliance on traditional, high-risk Gulf routes.
Despite the shift, Indian refineries have maintained operations at high capacity, in some cases exceeding 100% capacity utilization. India also imported 25.5 million metric tonnes (MT) of LNG in 2025, with projections for 2026 indicating a rise to roughly 29 million MT. However, Indian importers are no longer buying LNG from Russia that has been sanctioned by the United States.
As part of extra austerity measures, Modi has also urged citizens to voluntarily pause buying gold to conserve foreign exchange reserves amid high global tensions and soaring oil prices.
India’s gold imports hit a record high of nearly $72 billion in the 2025-26 fiscal year, with total import volume clocking in at roughly 721 tonnes thanks to strong demand driven by festive buying and a significant shift towards gold bars and coins over jewelry.
Roughly 440 tonnes was linked to jewelry purchases, with another 280 tonnes spent on gold bars and coins reflecting a high investment trend.
By Alex Kimani for Oilprice.com
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