India's Oil Import Dependence and Energy Security
Energy security — the reliable availability of energy at affordable prices — is a core dimension of India's national security and economic policy.
- India imports approximately 87–90% of its crude oil requirements, making it the world's third-largest oil importer (after China and the USA).
- India spent USD 137 billion on crude oil imports in FY 2024–25.
- A $1/barrel rise in crude price increases India's annual oil import bill by $1.8–2 billion.
- India's oil import basket is geographically concentrated: Russia (top supplier since 2023), Iraq, Saudi Arabia, UAE among top five.
- India has taken steps to diversify suppliers and is exploring US crude (WTI), Latin American, and African crude as alternatives.
- India's Hydrocarbon Vision 2047 aims to reduce import dependence through domestic production enhancement, renewables scale-up, and energy efficiency.
● Tracked since March 03, 2026 · last seen June 20, 2026 · updates as the daily brief publishes
20 Jun '26
Three Indian-flagged oil tankers transit through Strait of Hormuz
International Relations
08 Apr '26
Oil prices plunge below $100/bbl after US, Iran agree on 2-week ceasefire
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27 Mar '26
Govt asks auto industry to optimise production as Iran war hurts energy supplies
Economics
International Relations
Strait of Hormuz
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UNCLOS and Freedom of Navigation
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India's Strategic Petroleum Reserves (SPR)
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Maritime Chokepoints and India's Strategic Geography
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Gulf Remittances and India's External Sector
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International Energy Agency (IEA) and Strategic Petroleum Reserves
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