India's crude oil import bill soared to $50 billion in Q1 FY27, driven by a 61% year-on-year increase amid heightened geopolitical tensions in West Asia.
The weak rupee was one of the reasons behind the higher value in US dollars
Jul 31, 2026
05:10 pm
What's the storyIndia's crude oil import bill for the first quarter of FY27 has hit a record high, nearing $50 billion.
The surge is mainly due to supply disruptions caused by the ongoing West Asia conflict, which has pushed prices of this geo-politically sensitive commodity up.
West Asia conflict: India’s Q1 FY27 crude oil import bill hits all-time high of $50 billion
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