ECONOMIC PERISCOPE: GROWTH ROADMAP FOR INDIA AMID GLOBAL POLICY SHIFTS
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- ECONOMIC PERISCOPE: GROWTH ROADMAP FOR INDIA AMID GLOBAL POLICY SHIFTS
After the US President Donald Trump has assumed office, there are sharp global ramifications of his tariff and sanctions related policies for the rest of the economies. Fresh sanctions by the US on Russian oil majors Rosneft and Lukoil drove Indian refiners to “recalibrate” import strategies. The sanctions will be effective from 21 Nov’25. Hence, Indian refiners might be tempted to stock Russian crude oil before the sanctioned deadline.
Meanwhile, India’s crude oil imports from US remains the highest that reached 5,40,000 b/d until 27th Oct’25, which is likely to reach at around 5,75,000 bpd at the end of this month. This upsurge of crude oil imports from the US can be seen as an attempt to ease trade tensions and to reach a better outcome with modest tariff lower than the current fifty per cent. However, given the global importance of the Russian major oil players, the crude oil price trajectory remains to be watched carefully.