War has hit all nations, but India managed it well: PM Narendra Modi

Modi said India's decision to join the Pax Silica initiative aims to strengthen the supply of critical minerals

Prime Minister Narendra Modi on Tuesday said the circu­mstances in West Asia have affected every country, but India managed the situation well. 

“At a time when the world is grappling with war, unrest and rising fuel prices, India has managed the situation effectively due to strong foreign policy and the unity of its people," Modi said while addressing a gathering at Nani village in Vav Tharad district of Gujarat. 

He accused the Congress of trying to create panic so that people queue up at fuel stations and gas agencies, likening the party to “political vultures” waiting to exp­l­oit the situation (aris-­ ing out of the West Asia war) and reap political dividends.

 

 

The Prime Minister noted that though fuel prices have risen by as much as 10 per cent globally due to the West Asia conflict, the Central government is ensuring that the burden of this impact does not fall upon people. He also asserted that India would emerge as a world leader in the renewable energy sector. 

Earlier in the day, Modi inaugurated Kaynes Semicon's outsourced semiconductor plant in Sanand, marking the commencement of production, and said India is strengthening its role as a reliable semiconductor supplier in the global market. 

The 21st Century has brought several challenges and global supply chains have been affected due to conflicts, the PM said, emphasising that the government is laying a strong foundation for technology and energy security in the coming decades. Modi said India is actively building a robust semiconductor ecosystem and simultaneously making significant efforts to establish a resilient supply chain for raw mater­ials. 

Modi noted that when the Covid-19 pandemic disrupted supply chains, India decided to become a hub of semiconductor manufacturing. 

“India is actively building a robust semiconductor ecosystem and simultaneously making significant efforts to establish a resilient supply chain for raw materials. India's participation in Pax Silica is a testament to this very endeavour. Working in tandem with our global partners, we aim to ensure a secure supply chain.” Modi added.

  India recently joined Pax Silica, a US-led strategic coalition launched in December to secure critical technology supply chains, with a special focus on semiconductors, AI, and rare earth elements.