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India's crude oil import bill drops 16% but import dependency hits new high

India's crude oil import bill drops 16% but import dependency hits new high

Wed, Apr 17, 2024

India imported 232.5 million tonnes of crude oil, which is refined into fuels like petrol and diesel, in the 2023-24 fiscal (April 2023 to March 2024), almost the same as in the previous financial year. But it paid USD 132.4 billion for the imports in FY24 as against USD 157.5 billion import bill in 2022-23, oil ministry's Petroleum Planning and Analysis Cell (PPAC) data showed.

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