Try GOLD - Free
Energy exporters face crude shock, tougher competition
Hindustan Times Noida
|April 04, 2025
THE DEVELOPMENT COMES AT A TIME WHEN INDIA IS LOOKING AT EXPANDING ITS CRUDE REFINING CAPACITY AND BECOME A PETROCHEMICALS AND REFINING HUB
NEW DELHI: As the US has announced a 27% additional tariff on imports from India, petroleum products exports to the country are set to witness a major impact going ahead, said sector experts.
A bulk of the petroleum exports to the US from India comprises petrol or gasoline. India's annual petroleum product exports to the US is around $5-6 billion (approximately ₹41,750-50,100 crore).
According to Deepak Mahurkar, leader, oil & gas at PwC India, the additional tariffs may lead to an increase in trade deficit for India.
"The 27% duty on imports of petroleum products into the US from India of about $6 billion in 23-24 (FY24) will significantly get affected. The trade deficit on just the account of petroleum crude at about $5 billion will further widen."
This story is from the April 04, 2025 edition of Hindustan Times Noida.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Hindustan Times Noida
Hindustan Times Noida
Jlo-Ben get cosy on the red carpet a year after their divorce
Ben Affleck (53) and Jennifer Lopez (56) reunited, if only for a night, on Monday in New York City, which did spark excitement among their fans.
1 min
October 08, 2025
Hindustan Times Noida
Economic, security ties key as UK PM begins India visit
Measures to deepen economic and security cooperation with India are set to top the agenda for UK Prime Minister Keir Starmer's two-day visit beginning on Wednesday, during which he will hold talks with Prime Minister Narendra Modi and participate in several business-related meetings.
2 mins
October 08, 2025
Hindustan Times Noida
Barrier-defying phenomenon in quantum realm
Quantum activity on a macro scale A BALL CANNOT PASS THROUGH A WALL...
3 mins
October 08, 2025
Hindustan Times Noida
VIKAS SAРТАН
Gujarat Gears Up to Celebrate 24 Years of Inclusive Growth Gujarat will hold its second consecutive Vikas Saptah from October 7 to 14, 2025. This week-long event celebrates progress and community engagement, highlighting the state's remarkable development journey from 2001 to 2025
1 min
October 08, 2025
Hindustan Times Noida
One-time ally asks Prez to resign in a shock call
{ FRANCE } ESCALATING POLITICAL CRISIS
2 mins
October 08, 2025
Hindustan Times Noida
Don't cross ‘Lakshman rekha’, VP tells parties
Lawmakers have right to speak, but we “should not cross the Lakshman rekha”, Rajya Sabha chairman CP Radhakrishnan said on Tuesday as he sought the support of leaders of various political parties to ensure smooth functioning of the Rajya Sabha.
1 min
October 08, 2025
Hindustan Times Noida
COUGH SYRUP SALES PAUSED IN DELHI OVER DEG TOXICITY SCARE
The Delhi Drugs Control Department has directed all cough syrup manufacturers in the Capital to suspend sales until their raw materials and finished products are tested for diethylene glycol (DEG), a toxic industrial solvent, following the deaths of 17 children in Madhya Pradesh and Rajasthan allegedly linked to a contaminated cough syrup.
1 min
October 08, 2025
Hindustan Times Noida
Road rage: 24-yr-old kills man, arrested
A 24-year-old man was arrested for allegedly beating a scooterist to death following a road rage incident in southwest Delhi's Palam Village on Saturday night, police said.
1 min
October 08, 2025
Hindustan Times Noida
AlUla: A destination like no other
Located in northwest Saudi Arabia, AlUla is an ancient oasis that once served as a vital stop on the Incense Road. Today, it is emerging as a must-visit destination, offering a rare blend of history, Nature, culture and contemporary luxury. Start your journey at Hegra, Saudi Arabia's first UNESCO World Heritage Site, where more than 110 rock-carved tombs tell the story of the Nabataeans. Explore the site on a vintage Land Rover with a local Rawi guide, or time your visit with the Ancient Kingdoms Festival to see spectacular light shows. In AlUla Old Town, wander through restored mudbrick homes, market stalls, and a centuries-old watchtower.
1 min
October 08, 2025
Hindustan Times Noida
Winter's tale
In the world of street food, a season's snack returns
2 mins
October 08, 2025
Listen
Translate
Change font size