What is the current share of Crude and Petroleum products in total imports of India at present?

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IB ACIO Grade-II Official Paper-I (Held On: 15 Sep, 2013)
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  1. above 70%
  2. 52 - 56%
  3. 6 - 21%
  4. 27 - 33%

Answer (Detailed Solution Below)

Option 2 : 52 - 56%
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The correct answer is 52-56%.

India's crude and petroleum Imports - 

  • India imports more than 70 or 80% of its oil requirement.
  • India ranked 4th in terms of crude and petroleum consumption in the world.
  • As per the economic survey 2013 data, the share of Crude and Petroleum products in total imports of India is 27-33%.
  • As per the recent economic survey data, the share of Crude and Petroleum products in total imports of India at present is 52.7%. Hence option 2 is correct.

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