Modi Urges Indians to Cut Costs Amid Iran Tensions

India’s Prime Minister has appealed for voluntary spending cuts as the Iran war and Strait of Hormuz disruptions threaten energy imports and fuel prices. He asked citizens to work from home more, take fewer non-essential trips, reduce fuel use and hold off on buying imported goods such as gold. The government has raised import duties on gold and silver to 15% to protect foreign reserves. The rupee has weakened under rising oil costs. At the same time, the Prime Minister ordered a 50% cut in his official convoy size and greater use of electric vehicles. Several states are also stepping up efforts to conserve fuel and curb non-essential imports.

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