Amidst the ongoing war in Iran, Prime Minister Narendra Modi has urged Indians to reduce consumption of gold, foreign travel, and fuel to conserve dollars, echoing pandemic-era appeals. This call for "patriotic austerity" comes as India faces a ballooning import bill due to rising oil prices and a decrease in foreign investment.

• India imports roughly 90% of its crude oil and half its gas needs.
• Prime Minister Narendra Modi is asking citizens to cut back on spending to "save dollars."
• Forex reserves have fallen by $38 billion since the Iran war began.