Fighting fuel dependence

India has to think strategically to ensure macro stability

India’s dependence on fuel imports continues to grow. India imports over 80 per cent of its crude oil and the largest sources are Iraq, Saudi Arabia and sanctions-hit Iran. Overall, India’s import dependency in its energy mix has risen sharply from 21 per cent in 2000 to 36 per cent in 2015 — and could be as much as 50 per cent in 2040 even if energy production domestically grows faster than it has in the past. This is clearly a major, continuing problem and there are no easy solutions. As India modernises its economy, it will clearly move away