India's Energy Import Dependence
India imports approximately 87% of its crude oil requirements, making it one of the most import-dependent large economies in the world. This dependence is projected to rise to 92% by 2035. The top crude suppliers as of 2024 were Russia (36.3%), Iraq (20.5%), Saudi Arabia (13%), and UAE (9%). Any disruption along any of these supply corridors — particularly the Persian Gulf — has immediate macroeconomic consequences including inflation, current account stress, and rupee depreciation.
- India is the world's third-largest oil importer
- 87% crude import dependence (2024); projected 92% by 2035
- Roughly 51% of India's crude oil and 83% of India's LPG pass through Strait of Hormuz-linked routes
- Russian oil share fell to 21.2% in January 2026 — lowest since October 2022 — due to US sanctions and tariff negotiations
● Tracked since March 02, 2026 · last seen June 15, 2026 · updates as the daily brief publishes
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