Economic advisors discussed growth strategies, energy security and reform measures as geopolitical tensions continue to impact global markets
Prime Minister Narendra Modi on Saturday chaired a meeting of the Economic Advisory Council to the Prime Minister (EAC-PM), with discussions centred on sustaining India’s growth momentum amid global economic uncertainty and rising concerns over energy supplies due to tensions in West Asia.
According to sources, the meeting examined a range of policy measures and strategies aimed at strengthening economic growth while safeguarding macroeconomic stability in an increasingly volatile global environment.
A key focus of the discussions was on reforms to improve the ease of living for citizens and further enhance the ease of doing business across the country. Participants reviewed current economic trends and explored ways to accelerate development while maintaining fiscal and financial stability.
Members of the EAC-PM also shared their assessments of the evolving international economic landscape and its potential implications for India. Particular attention was given to the impact of the ongoing conflict in West Asia on global trade, energy security, supply chains and overall economic growth.
The council examined how geopolitical developments could influence both India’s economy and broader global markets in the coming months.
The meeting comes at a time when economies worldwide are grappling with heightened geopolitical tensions, supply chain disruptions and uncertainty in international markets following the escalation of the US-Iran conflict and concerns over the Strait of Hormuz, a critical route for global energy supplies.
US-Iran tensions intensify
Meanwhile, the United States military said it intercepted four Iranian drones allegedly launched towards the Strait of Hormuz on Friday before carrying out strikes on several Iranian coastal surveillance radar installations.
According to US Central Command (CENTCOM), the drones posed an immediate threat to maritime traffic in the strategically significant waterway through which a substantial share of the world’s oil and natural gas shipments pass.
“The attack drones posed an immediate threat to regional maritime traffic,” CENTCOM said in a statement.
Following the interceptions, US forces launched strikes against multiple Iranian radar sites, including a facility located on an island in the Strait of Hormuz. The US military said the operation was intended to prevent further attacks and ensure the safety of international navigation.
The latest developments have raised fresh concerns over regional stability and renewed fears of a broader confrontation between Washington and Tehran, with potential implications for global energy markets and economic growth.
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