Nilesh Shah of Kotak Mutual Fund, and a member of the PM’s economic advisory council, says India must reduce vulnerability to energy shocks by accelerating electrification and rapidly scaling up nuclear power. His argument centers on cutting dependence on energy imports and strengthening long-term energy security as global disruptions threaten supply and prices.
India’s crude oil imports fell sharply in March as conflict in the Middle East disrupted tanker routes and effectively halted transit through the Strait of Hormuz. With supplies delayed, India leaned more heavily on Russian crude, reshuffling its supplier rankings. Russia stayed the top source while Saudi Arabia climbed into second place as other flows weakened.
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