Oil sourcing shift to Venezuela could lower India’s fuel import bill by $3 bn: SBI Report
India could cut its annual fuel import bill by up to $3 billion by diversifying crude oil sourcing away from Russia, according to an SBI Research report, which flags energy savings as a key gain from the India–US trade deal. The report also highlights lower US tariffs on Indian goods, improved export competitiveness and limited inflation risks as major positives for India’s economy.
India could cut its annual fuel import bill by up to $3 billion by diversifying crude oil sourcing away from Russia, according to an SBI Research report, which flags energy savings as a key gain from the India–US trade deal. The report also highlights lower US tariffs on Indian goods, improved export competitiveness and limited inflation risks as major positives for India’s economy.
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