Modi Urges Indians To Limit Buying Gold, Fuel Use And Travel To Save Forex

(MENAFN- Khaleej Times) Indian Prime Minister Narendra Modi on Sunday urged a spate of measures, including fuel conservation, work-from-home practices and limits on travel and imports, as a surge in global energy prices puts pressure on the country's foreign exchange reserves.

People should prioritise a return to work-from-home and online meetings, widely adopted during the Covid-19 pandemic, saying it would help India use less fuel, Modi said.

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"In the current situation, we must place great emphasis on saving foreign exchange," he said. Modi also asked people to use public transport such as the metro and to carpool where possible to conserve fuel.

India, the world's third-biggest oil importer and consumer, late last month said there was no proposal to raise pump prices for diesel and gasoline, leaving it among the countries yet to raise prices despite the global surge.

Modi urged people to avoid buying gold - which India spends on heavily during weddings - and to cut non-essential overseas travel for at least a year to save foreign exchange.

He called on families to reduce cooking oil consumption, describing that move as both healthy and patriotic.

Modi also asked farmers to cut fertiliser use by as much as half.

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