New Delhi: Expressing concern over rising global crude prices, which have led to spiralling petrol and diesel prices in the country — an issue which has snowballed into a major political issue — Prime Minister Narendra Modi on Monday categorically said that if the trend continues, then it would hit the purchasing power of the common man and affect the demand & supply chain of consuming nations like India.This in turn, could have a severe impact on the rupee, he cautioned.
According to highly placed sources privy to the details of the meeting, Mr Modi while addressing a meeting of CEOs of some of the international oil majors, did not mince words and sent out a message to key oil producing nations that lack of action on their part could have a negative impact on the Indian currency, which in turn would significantly affect the consumption in India.
