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Energy exporters face crude shock, tougher competition
Hindustan Times Chandigarh
|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."
Cette histoire est tirée de l'édition April 04, 2025 de Hindustan Times Chandigarh.
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