Economy · India
India's Crude Oil Imports Rise Sharply Amid Global Price Hikes
India's crude oil import bill saw a significant increase of 60% in the first quarter of FY27, reaching nearly $50 billion. This surge represents 40% of the total crude import bill for the entire previous fiscal year. The rise is attributed to the loss of war-era discounts and a weakening rupee, despite a fall in import volumes.
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- Centre (2): Mint, The Indian Express