Why Rising Crude Oil Prices Matter for India | UPSC | NEXT IAS
Автор: NEXT IAS
Загружено: 2026-01-15
Просмотров: 1968
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India imports nearly 88–89% of its crude oil, and this dependence is rising due to growing urbanisation, higher purchasing power, and increasing fuel consumption. With limited domestic production, any spike in global crude oil prices directly impacts India’s economy by increasing the import bill and widening the current account deficit, especially when exports remain under pressure.
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