In response to Prime Minister Narendra Modi's recent appeal for austerity, the Indian government convened the fifth meeting of the Informal Group of Ministers (IGoM) to address the ongoing West Asia crisis and its implications for fuel supply. Defence Minister Rajnath Singh emphasized the importance of conserving resources and reassured the public that there is no need for panic, as the government is actively working to prevent shortages. He stated, “I urge people to remain calm and avoid any kind of panic as the government is taking concrete steps to prevent shortages or disruptions in supply chains.” The meeting included key ministers such as Hardeep Singh Puri and Sarbananda Sonowal, who discussed the current fuel situation. Despite global price volatility, officials confirmed that refineries are operating optimally and there are no reports of fuel shortages at retail outlets. However, the opposition, led by Rahul Gandhi, criticized Modi's austerity message, and the Chamber of Trade and Industry raised concerns about the impact on the gold retail sector. CTI chairman Brijesh Goyal requested a meeting with the Prime Minister to discuss the challenges facing jewellery dealers amid calls for reduced gold purchases this year.