Prime Minister Narendra Modi, during his address in Hyderabad on May 10, 2026, made a nationwide appeal asking Indians to adopt a more careful and disciplined lifestyle as the economic effects of the Iran war continue to impact countries across the world. His speech was centred around one idea — saving India’s economy from unnecessary pressure during a time of global uncertainty.
Modi explained that the sharp rise in international crude oil prices has become a serious concern for India because the country depends heavily on imports for fuel and several essential goods. In the financial year ending March 2026, India spent nearly 175 billion dollars on crude oil and petroleum products, making fuel one of the country’s largest expenses in foreign trade. At the same time, India’s foreign exchange reserves saw a noticeable decline within just a few months, increasing fears about long-term economic stability if imports continue at the same pace.
To reduce pressure on fuel imports, the Prime Minister urged people to change their daily habits wherever possible. He encouraged citizens to use public transport more often instead of private vehicles, share rides through carpooling, and avoid unnecessary travel. He also asked companies and offices to consider work-from-home systems again, similar to the period during the COVID pandemic, saying that online meetings and remote work could help save massive amounts of fuel every day.
One of the most talked-about parts of his speech was his request to Indians to avoid buying gold for at least one year. India imported around 72 billion dollars worth of gold during the 2025–26 financial year, making it the second largest gold importer in the world after China. Modi said that while gold holds emotional and cultural value in Indian households, reducing gold purchases for a temporary period could help save foreign exchange reserves during the current crisis. Soon after the speech, shares of jewellery companies, including Titan Company, reportedly witnessed a decline in the stock market.
The Prime Minister also appealed to citizens to reduce nonessential international travel. According to available data, more than 32 million Indians travelled abroad in 2025, including millions who travelled only for tourism and leisure. Modi explained that foreign trips increase the outflow of foreign currency at a time when the country needs to preserve every possible reserve. Airline companies, including InterGlobe Aviation, also saw their shares fall after the speech, reflecting concerns about reduced travel demand.
His message was not directed only at urban consumers and businesses. Modi also addressed farmers, requesting them to reduce fertiliser usage wherever possible because India remains one of the world’s biggest importers of urea and chemical fertilisers. He spoke about the need to shift towards smarter and more balanced agricultural practices that reduce dependence on imported products.
In another appeal connected to everyday life, Modi asked families to cut down their cooking oil consumption. He described this as both a healthy habit and a patriotic contribution t the country. India imports a large quantity of edible oil every year, and reducing consumption even slightly across millions of households could make a noticeable difference economically.
The speech reflected a larger concern within the government about how international conflicts can directly affect ordinary people in India. Rather than announcing strict restrictions, Modi focused on voluntary cooperation and collective responsibility. His appeal was presented as a call for temporary sacrifice so that the country could remain economically stable during a difficult global situation.
More than a political speech, the address became a reminder of how deeply connected India’s economy is with global events. Through fuel conservation, controlled spending, reduced imports, and lifestyle changes, the Prime Minister asked citizens to participate directly in protecting the nation’s economic strength during uncertain times.
Source:
- The Indian Express https://share.google
- The Hindu https://share.google
- https://www.telegraphindia.com
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