Date: 2026-05-11Category: Press ReleaseState: Union GovernmentCountry: India
Key takeaways of 5th IGoM on West Asia chaired by RM: No shortage of any petroleum product, India has 60 days of crude oil, 60 days of Natural Gas & 45 days of LPG rolling stock
**Executive Summary**
The 5th meeting of the Informal Group of Ministers (IGoM) was held on May 11, 2026, to review India’s readiness and energy security amid the ongoing conflict in West Asia. The government confirmed that the nation possesses sufficient stocks of petroleum products and fertilizers, with strategic focuses on maintaining economic stability and secure maritime trade routes. Key action items include the implementation of credit guarantee schemes for industry and an appeal for national fuel and resource conservation.
**Key Points / Main Content**
**Energy Security and Stock Availability**
* India maintains rolling stocks of 60 days for crude oil, 60 days for natural gas, and 45 days for LPG.
* Foreign exchange reserves are currently at a comfortable level of $703 billion.
* Despite global volatility, domestic petroleum prices have remained steady as oil marketing companies absorb losses of approximately Rs 1,000 crore daily.
* The government is meeting full domestic demand while remaining the world's third-largest oil refiner and fourth-largest exporter of petroleum products.
**Strategic Crisis Management**
* Primary focus areas include ensuring uninterrupted energy flows, maintaining economic stability, and securing maritime trade routes.
* The leadership emphasized "whole-of-government preparedness," including strategic crisis anticipation, early warning assessments, and scenario planning.
* There is an urgent directive to accelerate the transformation of the national energy mix by expanding renewable sources and increasing investment in energy efficiency.
**Financial and Policy Support**
* The Union Cabinet approved the Emergency Credit Line Guarantee Scheme 5.0 (ECLGS) on May 05, 2026, with a credit flow target of Rs 2,55,000 crore.
* The Ministry of Finance has enabled force majeure-related relief for public procurement contracts, treating the current crisis as "war" to allow performance deadline extensions of 2–4 months.
**Agricultural Readiness**
* Fertilizer availability is robust, with current stocks (199.65 Lakh Tons) exceeding requirements and covering over 51% of the assessed Kharif 2026 requirement.
* Logistics management and advance stocking have resulted in higher-than-usual stock levels compared to previous years.
**Impact Analysis**
**Stakeholder: Citizens**
**Impact**
Citizens are currently shielded from 30–70% price hikes seen in other nations, though they are being asked to bear a collective responsibility to reduce the national fiscal burden.
**Action Required**
Reduce petrol and diesel consumption via public transport and carpooling; defer non-essential foreign travel and gold purchases for one year; avoid panic buying of essential commodities.
**Stakeholder: Industry (MSMEs and Airlines)**
**Impact**
These sectors benefit from targeted liquidity support and relief from contractual risks arising from global disruptions.
**Action Required**
Utilize the 100% credit guarantee coverage for MSMEs and 90% for non-MSMEs/airlines under ECLGS 5.0; apply for contract extensions under the new force majeure guidelines.
**Stakeholder: Farmers**
**Impact**
Farmers have access to surplus fertilizer stocks for the upcoming season but are being pushed toward long-term sustainability to reduce import dependence.
**Action Required**
Reduce chemical fertilizer usage by 50%; transition toward natural farming practices and solar-powered irrigation pumps.
**Stakeholder: Ministries and State Governments**
**Impact**
Government bodies are tasked with moving from reactive management to institutionalized efficiency.
**Action Required**
Coordinate to institutionalize fuel efficiency and public awareness; identify measures to encourage responsible consumption behavior and diversify energy supplies.
Key Entities Referenced
Informal Group of Ministers (IGoM) on West Asia: The primary inter-ministerial body chaired by the Raksha Mantri to assess risks to energy supplies and ensure domestic availability of essential commodities during the regional conflict.
Emergency Credit Line Guarantee Scheme 5.0: A financial initiative approved to provide liquidity support and credit guarantee coverage for MSMEs and the airline sector to mitigate global economic disruptions.
Department of Expenditure: The government department that issued a circular enabling force majeure-related relief and performance deadline extensions for public procurement contracts due to the crisis.
West Asia: The central geographical region whose conflict necessitated India's strategic readiness reviews, fuel conservation appeals, and maritime trade route security measures.
Ministry of Defence
Key takeaways of 5th IGoM on West Asia chaired
by RM: No shortage of any petroleum product,
India has 60 days of crude oil, 60 days of Natural
Gas & 45 days of LPG rolling stock
Present conservation intended towards long-run capacity
building
All concrete steps being taken to prevent supply chains
disruptions, people must remain calm: Shri Rajnath Singh
“Govt’s primary focus is to ensure that energy flows remain
uninterrupted, economic stability is maintained & maritime
trade routes remain secure”
“Need to focus on strategic crisis anticipation, early warning
assessment, scenario planning & timely whole-of-
government preparedness”
Posted On: 11 MAY 2026 4:06PM by PIB Delhi
Raksha Mantri Shri Rajnath Singh chaired the 5th meeting of the Informal Group of Ministers (IGoM) on
West Asia at Kartavya Bhawan-2, New Delhi on May 11, 2026. The meeting took stock of the latest
developments in the conflict, and discussed ways to bolster India’s readiness to ensure its minimum effect
on the people. Minister of Chemicals & Fertilizers Shri Jagat Prakash Nadda; Minister of Petroleum and
Natural Gas Shri Hardeep Singh Puri; Minister of Railways, Information and Broadcasting, Electronics &
Information Technology Shri Ashwini Vaishnaw; Minister of Parliamentary Affairs Shri Kiren Rijiju;
Minister of Civil Aviation Shri Kinjarapu Rammohan Naidu, Minister of Ports, Shipping and Waterways
Shri Sarbananda Sonowal; and Minister of State (Independent Charge) of the Ministry of Science &
Technology Dr Jitendra Singh attended the meeting.The IGoM was informed that the country is secure, and there is no shortage of any petroleum product,
even as most other nations have taken emergency measures to dramatically reduce domestic consumption.
India has 60 days of crude oil, 60 days of Natural Gas and 45 days of LPG rolling stock. The foreign
exchange reserves stand at a comfortable $703 billion. India is the world’s third largest oil refiner and
fourth largest exporter of petroleum products, exporting to over 150 countries and is meeting domestic
demand in full. But there is a huge cost being borne by the nation as international crude prices are
continuing at very high levels. Fuel conservation can ease this burden. Prime Minister Shri Narendra
Modi’s appeal to the people for collective participation to help the country deal with global economic
disruptions, supply chain challenges and rising prices caused by international conflicts has, thus,
emphasised prudence in usage of petroleum products and reducing wasteful consumption, so that the fiscal
burden on the nation is reduced in the present and into the future.
India is among the few countries where petroleum prices have held steady through this period of global
volatility even after more than 70 days since the conflict started. In many nations, prices have increased by
30 to 70 per cent. However, India’s oil marketing companies have absorbed losses of close to Rs 1,000
crore a day, with under-recoveries running to nearly Rs 2 lakh crore in Q1 ’26 so that the burden of global
astronomical prices is not passed to the Indian citizens. There is no reason for anxiety, and no reason for
any citizens to rush to retail outlets.The Ministers were informed that there is a surplus amount of essential commodities for the people and
the present conservation is intended towards long-run capacity building if the crisis prolongs. The supply
management has been good, and the people need not panic or resort to over purchase of fuel & other
products.
Raksha Mantri directed the officials to take concrete steps to implement the Prime Minister’s appeal at the
ground level. The Prime Minister, on May 10, 2026, exhorted the people to reduce petrol and diesel
consumption by using metros & public transport, opting to car pooling; help conserve foreign exchange
reserves by refraining from unnecessary foreign travel, choosing domestic tourism & celebrations within
India, and avoiding non-essential gold purchases for a year. He had urged the farmers to reduce chemical
fertiliser usage by 50 per cent, move towards natural farming practices, help protect soil health & reduce
import dependence, and encourage wider adoption of solar-powered irrigation pumps instead of diesel
pumps in agriculture. “Ministries and States must identify, in a coordinated manner, measures to
institutionalise fuel efficiency, public awareness, and responsible consumption behavior,” said Shri
Rajnath Singh.
In a post on X after the meeting, Shri Rajnath Singh commended the work being done by the Government
towards ensuring supplies of all essential commodities. He urged the people to remain calm and avoid any
kind of panic as all concrete steps are being taken to prevent shortages or disruptions in supply chains.
The 5th meeting of IGoM was held today to review the existing risks to energy
supply chains and domestic availability of essential commodities in the wake of
the conflict in West Asia.
The Government under the leadership of PM Shri @narendramodi has been doing
commendable work… pic.twitter.com/L6OG25VJk2
— Rajnath Singh (@rajnathsingh) May 11, 2026Raksha Mantri emphasised that the primary focus for India during the current phase is to ensure that
energy flows remain uninterrupted, economic stability is maintained, and maritime trade routes remain
secure. He directed all stakeholders to remain vigilant to deal with every situation.
Shri Rajnath Singh underlined the urgent need for India to accelerate the process of transforming its
energy mix, rapidly expanding renewable-based alternative energy sources, identifying more reliable &
diversified energy supplies, and increasing investment in energy efficiency technologies. He called for re-
evaluation of strategic reserve requirements to tackle issues arising out of supply chain disruptions, with
future energy security in mind.
Raksha Mantri asserted that the West Asia situation should not be viewed merely as a stand-alone event as
any form of international crisis directly or indirectly affects all nations in today's interconnected global
environment. He stressed the need to focus on strategic crisis anticipation, early warning assessment,
scenario planning, and timely whole-of-government preparedness.
The IGoM was informed about the recent policy measures undertaken specifically to support industry,
including MSMEs. To provide liquidity support to the industry, including MSMEs, the Union Cabinet on
May 05, 2026 approved the Emergency Credit Line Guarantee Scheme 5.0 with a total additional credit
flow target of Rs 2,55,000 crore with the objective of providing credit guarantee coverage of 100% for
MSMEs and 90% for non-MSMEs, as well as the airline sector.
Moreover, taking cognizance of the Industry demand for advisory related to ‘force-majeure-like’ risks in
public procurement contracts the Ministry of Finance has also enabled force majeure-related relief
measures including a circular by Department of Expenditure clarifying that the ongoing crisis should be
treated as war for consideration of Force Majeure whereby the performance deadlines can be extended by
2-4 months from February 28, 2026.
The IGoM was informed that fertiliser availability remains robust, with supplies continuing to exceed
requirements. Overall stock position of fertilizers in the country is as follows (Lakh Tons):
Product Stock As Stock As
on 11.05.2026 on 11.05.2025Urea 76.65 75.48
DAP 22.52 14.87
NPKs 60.42 48.32
SSP 26.99 26.92
MOP 13.07 12.99
Total 199.65 178.58
For Kharif 2026, the fertiliser requirement has been assessed by DA&FW at 390.54 LMT, against this stock
as on today is around 199.65 LMT (more than 51%), significantly higher than the usual level of about 33%.
This reflects improved planning, advance stocking, and efficient logistics management by the Government.
Domestic production and import of fertilizers after crisis (Lakh Tons):
Product Domestic production after crisis Domestic production (01.03.2025
(01.03.2026 to 10.05.26) to 10.05.25)
Urea 46.28 54.98
DAP 6.20 5.56
NPKs 15.57 22.03
SSP 8.73 9.44
Total 76.78 92.01
Sale of Fertilizers (Lakh Tons):
Product Sale 01.03.26 to 10.05.26 Sale 01.03.25 to
10.05.25
Urea 38.94 34.60
DAP 9.40 6.17
NPKs 14.25 11.71
SSP 5.52 4.28MOP 3.08 2.89
Total 71.19 59.65
****
VK/Savvy
(Release ID: 2259798) Visitor Counter : 2736
Read this release in: Marathi , Urdu , ही , Bengali , Gujarati , Tamil , Kannada