'No Reason To Panic': Piyush Goyal Tells CNBC-TV18 India Has 'Healthy Stocks' Of Fuel And Gas

Last Updated:March 14, 2026, 20:39 IST

The minister noted that the administration is actively diversifying its procurement strategy, seeking alternative sources to ensure a steady flow of energy and gas

Union Minister Piyush Goyal has urged citizens to remain calm amid the ongoing West Asia conflict, asserting that India is well-equipped to handle potential supply chain disruptions. Speaking with CNBC-TV18, the minister acknowledged that while geopolitical tensions inevitably bring challenges, the government has secured robust reserves of essential commodities to insulate the domestic market from external shocks.

Goyal emphasised that India currently maintains healthy stocks of crude oil, fuel, and LPG, dismissing any immediate concerns regarding shortages. He noted that the administration is actively diversifying its procurement strategy, seeking alternative sources to ensure a steady flow of energy and gas. A key pillar of his message was a stern warning against the hoarding of gas cylinders. The minister clarified that there is no logical basis for panic-buying, as the current inventories are sufficient to meet national demand. He further offered an optimistic outlook on the duration of the conflict, suggesting that the hostilities may not be prolonged.

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Beyond immediate crisis management, Goyal reaffirmed the government’s confidence in India’s fundamental economic strength. He projected that India would retain its status as the world’s fastest-growing major economy for at least the next two decades. This sustained momentum, he suggested, is underpinned by resilient domestic policies and a proactive approach to global volatility.

By positioning India as a stable “growth engine" even in a volatile global environment, Goyal’s remarks aim to steady the markets and prevent inflationary pressures driven by consumer anxiety. As the government continues to monitor maritime corridors and energy prices, the official stance remains one of cautious optimism and strategic preparedness.

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