Kolkata, March 6: Defence Minister Rajnath Singh on Friday acknowledged the global energy supply chain disruption amid the ongoing conflict in West Asia, terming it "highly unusual."
Addressing the Sagar Sankalp Maritime Conclave in Kolkata, the Defence Minister said that the disruption of trade routes, including the Strait of Hormuz, has affected several sectors and global trade.
The ongoing conflict between US-Israel and Iran has dragged the West Asian region into a state of conflict, hampering the trade routes at the Strait of Hormuz and impacting the global oil and energy supply chain.
The Defence Minister said, "What is happening in the Middle East is highly unusual. It is difficult to make any firm comment at this stage on the direction in which conditions in the Middle East, or in our neighbourhood, might proceed going forward. If we look at the Strait of Hormuz or the entire Persian Gulf region, it is an extremely important area for the world's energy security."
"When there is a disturbance or disruption in this region, it directly impacts the supply of oil and gas. Not only that, today we are witnessing supply chain disruptions not just in the energy sector, but in other sectors as well. The direct impact of these uncertainties falls on the economy and global trade," he said.
The Defence Minister also expressed concern over increasing strategic competition among nations across multiple domains, saying that the "abnormality is becoming the new normal."
"Nations are clashing with each other on land, in the air, in the waters and even in space. This is concerning and an abnormal situation. What is more worrying is that this abnormality is becoming the new normal," he said.
Amid the changing geopolitical equations and uncertainties, Rajnath Singh called for India to provide leadership in the maritime sector and termed 'self-reliance' as the only way to counter the supply chain disruptions.
He said, "In this era of changing global geopolitics, oceans have once again come to the centre of the world's power balance. At such a time, as a major maritime nation, it is India's responsibility to provide leadership with confidence, capability, and a clear vision."
"In the Defence sector today, high-end and precision technologies are being utilised, and therefore, our government has, from the very beginning, believed that in this era of uncertainty, the only way to avoid supply chain disruptions is 'self-reliance'. And one of the major pillars of our vision for self-reliance is Defence Public Sector Undertakings," said Rajnath Singh.
He gave the public and private players in the maritime sector the goal of placing India among the top ten shipbuilding nations by 2030 and among the top five nations by 2047.
"Our goal is clear: by 2030, we must secure a place among the top ten shipbuilding nations. And by 2047, we must reach the top five. This dream is big, but not impossible, and it is not just the government's goal--it should be the responsibility of all of us. This is the shared responsibility of the industry, the workforce, and the policy system," the Union Minister said.
The Defence Minister's remarks came as the conflict in West Asia has entered its seventh day following the US and Israeli strikes on Iran that killed Supreme Leader Ayatollah Khamenei, along with other key figures in the Persian Gulf country on February 28. In retaliation, Tehran has responded with counter-strikes targeting American military bases and other Israeli assets across the region. (ANI)
