The story of India’s declining oil intensity

SBI Research
How West-Asia crisis is transforming Indians’ travel preferences with a hastened shift to EV…India’s oil consumption to GDP halved from 1.4% in FY14 to 0.7% of GDP in FY26 and crude oil imports to GDP declined from peak of 8.6% in Q2FY14 to 3.1% in Q2FY26 justifying India’s economic resilience amidst global mayhem…a comprehensive EV policy could hasten the trend

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