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PM Modi Calls for Remote Work and Reduced Overseas Travel

PM Modi Urges Remote Work, Fewer Overseas Trips

PM Modi Calls for Remote Work Again

[1] Aims to Save Fuel and Curb Foreign Currency Outflows

Indian Prime Minister Narendra Modi on the 10th called on the public to resume working from home and avoid overseas travel for the next year amid persistently high crude oil prices. He is seen as seeking to encourage fuel conservation and secure foreign exchange reserves, looking ahead to the prolonged conflict in the Middle East.

In a speech that day in Hyderabad in southern India, the prime minister said that due to the impact of the conflict, "As long as disruption in the supply chain continues, difficulties will only increase, even if measures are taken. We must reduce our use of gasoline and diesel."

India relies on the Middle East for about half of its crude oil and liquefied natural gas (LNG) imports. While the government has kept a lid on price increases for gasoline and diesel, which directly affect household budgets, rises in cooking-related liquefied petroleum gas (LPG) and other business-use fuel have stood out.

Referring to remote work that spread during the COVID-19 pandemic, Mr. Modi stressed, "We need to once again prioritize working from home and online meetings."

[2] Calls for Refraining from Gold Purchases and Shifting Toward Farming

If high fuel prices persist, the economic blow will grow larger, and the increase in imports priced in dollars will trigger foreign currency outflows, worsening the current account balance. In addition to asking people to refrain from overseas travel, Mr. Modi also requested that they hold off on buying gold for one year. India is one of the world's largest gold importers, and demand remains strong for religious ceremonies and weddings.

He also urged farmers to reduce their use of chemical fertilizers, which are highly dependent on imports, and encouraged a shift toward natural farming.

Rising crude prices have also accelerated the fall of the rupee, which hit a record low against the dollar on the 5th. Foreign investors are pulling money out of stock and bond markets. The prime minister's remarks also appear intended to put some brake on these trends.

Opposition parties are intensifying criticism of the government's call for austerity in people's daily lives, saying that "the government is forcing the burden onto the public."

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