- Import
- 24 April 2024
India’s Crude Oil Imports Drop 16% But Import Dependency Rise in FY24
India’s crude oil imports dropped about 15% in the fiscal year 2023-24 but the dependency on overseas suppliers increased to a new high. India was the world’s third largest crude oil importing country in 2020 and second-biggest importer of crude oil. India imported 232.5 million tonnes of crude oil in 2023-24, which is refined into fuels like petrol and diesel. However, it paid USD 157.1 billion for the imports in FY24 as against USD 207.1 billion bill in 2022-23.
Read More