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Indias rising oil imports push trade deficit into risky territory: Crisil

Indias oil trade deficit is expected to widen significantly in FY27 due to rising crude oil prices and weakening petroleum exports, according to a report by Crisil. The report warned that Indias heavy dependence on imported crude could put added pressure on the countrys external finances, with the current account deficit also projected to rise as oil-related trade pressures intensify.

19 May 2026 12:33 pm