PM Modi chaired a nearly 4.5 hours meeting of the full Council of Ministers at Seva Teerth in New Delhi on Thursday evening. After 11 months, this session covered governance reforms, the Viksit Bharat 2047 roadmap, and India’s strategy to cushion the economy from the escalating West Asia crisis.
The council of ministers meeting comes just days after PM Modi returned from a five-nation tour covering the UAE, the Netherlands, Sweden, Norway, and Italy, during which India’s energy situation and geopolitical positioning were key themes. There is also growing speculation about a possible Cabinet reshuffle ahead of the Modi 3.0 government’s first anniversary on June 10.
Meanwhile, the government has constituted seven empowered groups to develop strategies across fuel, supply chains, fertilisers, logistics, and other areas to mitigate the impact of the ongoing conflict, as PM Modi informed Parliament earlier this year.
While the World Is Burning, Will Viksit Bharat 2047 work?
PM Modi made one thing unmistakably clear at the council of ministers meeting: Viksit Bharat 2047 is not a slogan. It is a commitment. Sources said he told ministers that every ministry must work with 2047 as its guiding target and that reforms must translate into faster, simpler governance for ordinary citizens, not just remain on paper.
But here is the question: Is dreaming of a developed India 23 years from now a luxury?
Can it be possible while fuel prices are hiked twice in one week?
Petrol and diesel prices were raised by roughly Rs 3 per litre on May 20, following an identical hike just five days earlier on May 15. Although both hikes were directly linked to elevated crude oil prices caused by disruptions around the Strait of Hormuz. But for middle-class families, the 2047 vision feels distant when the 2026 fuel bill is rising at the pump.
Is the “Fastest-Growing Economy” Now at Risk?
India imports roughly 85 percent of its crude oil, a significant chunk of which moves through West Asia. The ongoing US-Israel-Iran conflict has kept crude prices elevated for months and severely disrupted the Strait of Hormuz.
At this meeting, Modi reportedly asked ministers to urgently explore alternative sources of energy. He even suggested biogas as a potential substitute for LPG cooking gas, according to sources cited by multiple news outlets. Nine ministries made detailed presentations at the session, including Agriculture, Labour, Road Transport, External Affairs, Commerce, and Power.
A high-powered informal group of ministers led by Defence Minister Rajnath Singh has already been monitoring the crisis round the clock. The Minister’s Group includes Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, and Petroleum Minister Hardeep Singh Puri.
However, such sustained oil price pressure will widen India’s import bill, weaken the rupee, and fuel domestic inflation which will directly squeeze the capital expenditure budget that powers Viksit Bharat’s infrastructure pipeline.
India’s Strategic Asset Chabahar Port Investment at Risk?
India has invested approximately $370 million in the Chabahar port on Iran’s southern coast, positioning it as its strategic gateway to Central Asia and Afghanistan while bypassing Pakistan. An active war scenario in the region could physically threaten port operations, revive U.S. sanctions pressure on Indian entities engaged there, and unravel India’s broader connectivity strategy for its landlocked northern and northeastern trade corridors.
The ministry of External Affairs presentation at Thursday’s meeting is believed to have touched on India’s ongoing diplomatic efforts to protect its strategic interests in the region. However, specific details on Chabahar’s operational status under current conflict conditions have not been publicly disclosed.
The Viksit Bharat 2047 vision itself has been built through a two-year exercise drawing on inputs from national and international experts, corporate leaders, and NITI Aayog, targeting India’s transformation into a $30-trillion developed economy by its centenary as an independent nation.