India has made arrangements to purchase oil and fertilizers to meet its immediate demand, and there was no imminent threat of shortage, Union government officials told a parliamentary committee on Monday.
On Monday, a parliamentary committee on transport, tourism and culture reviewed the impact of the West Asian crisis and the deadlock over the opening of the Strait of Hormuz on maritime goods and concerns heading to India.
The committee, headed by Janata Dal (United) working president Sanjay Jha, was told that there was no immediate crisis related to oil and fertilizer supplies, people familiar with the matter said.
“Shipping Ministry officials informed the committee that India has made adequate allocations to secure oil from Russia, the US and Africa. Similar arrangements have also been made to procure fertilizers and boost domestic production to meet the demand,” one of the people cited above said.
The officials also informed the committee that 12 of the 36 ships stuck due to the stalemate are Indian vessels, HT has learnt.
The source mentioned above added, “The issue of rising insurance premiums in light of the crisis and the steps taken by the government were also discussed in the meeting. The government also indicated that if an agreement was reached to open the Strait of Hormuz, it would take between 5 to 6 days to restore normal life.”
The Committee was informed that the sailors were fine and that most of them were ready to continue working. Of the roughly 12,000 sailors, about 2,900 have chosen to return, officials said.
The committee asked the government to ensure long-term plans are in place to mitigate the impact of the stagnation and prepare for the necessities, the above-mentioned people said.
