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India’s Oil Dependence Increases to 84%
May 07, 2019
India’s oil import dependence has now increased by around 84% which is the highest in many years. Interestingly, Prime Minister Narendra Modi had set a target of bringing down the dependence by 10%.
At the “Urja Sangam” conference in March 2015, Prime Minister Narendra Modi said India needs to cut its oil import dependence to 67% by 2022 from 77% in 2013-14. However, in light of the stagnant domestic output, India’s oil dependence increased by 83.7% in 2018-19 against 82.9% in 2017-18.
Photo credit: paulhami on Visual Hunt / CC BY-SA
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