West Asia conflict inflates India’s net oil, gas import bill by 43% in April-July
India's net oil and gas import bill rose by 43.4% to $57.8 billion in April-July due to the West Asia conflict, according to provisional data from the petroleum ministry. This increase impacts trade balance, current account, inflation, and the rupee's exchange rate. The trend underscores India's heavy reliance on imports for energy needs, with over 88% of crude oil sourced externally.