India’s Oil Imports: Achilles’ Heel or Economic Javelin?

  • Focus Area -
  • Type Instant Insight
  • Date 21 August 2019
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Abstract

Presenting India’s 2019 budget on July 5, Finance Minister Nirmala Sitharaman sketched out the Modi government’s vision of becoming a $5 trillion economy by 2024, almost doubling the country’s current gross domestic product (GDP) of $2.73 trillion. To achieve this ambitious goal, India plans to liberalize foreign direct investment (FDI) rules and tap international bond markets to fund its budget deficit. The latter is a risky enterprise and ensures exchange rate policy becomes a future battleground. However, India’s economic growth has been slowing over the past two quarters, and the government has limited options to raise funds domestically, forcing it to look at external foreign currency borrowing. The government is betting that external borrowing combined with FDI inflows will lead to greater domestic investment and thus higher growth. 

Authors

Yagyavalk Bhatt

Yagyavalk Bhatt

Research Lead Yagyavalk Bhatt is an energy professional with more than seven years of experience in the transportation and electricity domain. Yagyavalk…

Yagyavalk Bhatt is an energy professional with more than seven years of experience in the transportation and electricity domain. Yagyavalk leads “The Role of Clean Energy Policies: Trends in India’s Transport Sector” project, aimed at estimating India’s transport energy demand and potential impact on crude oil supply chain.

His expertise covers energy policy, energy economics, transport modeling, the impact analysis of transport policies, emerging economies energy transition, renewable energy, and cost-benefit analysis of the transport and electricity sector. He has authored and contributed to numerous research papers and studies related to the transportation and electricity sector.

 

Expertise

  • Policy Analysis
  • Transport Demand Modeling
  • Sustainable Transport
  • Clean Energy Transition
  • Renewable Energy
  • Climate Change

Publications See all Yagyavalk Bhatt’s publications

Paul Mollet

Paul Mollet

Research Fellow Paul was a research fellow in the Policy and Decision Sciences program. He is a former journalist and energy market… Paul was a research fellow in the Policy and Decision Sciences program. He is a former journalist and energy market analyst with over 25 years of experience in international energy markets. He opened the first Gulf Cooperation Council bureau for the oil price reporting agency S&P Global Platts in Dubai in 1989 and later launched the first regional office for Argus Media. Paul has attended numerous OPEC meetings and written extensively about the oil industry in publications such as Platts Oilgram News, Argus Global Markets, and the Petroleum Economist. He was also the senior advisor to the Secretary-General at the World Energy Council (WEC).    

Jitendra Roychoudhury

Jitendra Roychoudhury

Research Fellow II Jitendra Roychoudhury is a research fellow in the Utilities and Renewables program. His ongoing research portfolio at KAPSARC covers various…

Jitendra Roychoudhury is a research fellow in the Utilities and Renewables program. His ongoing research portfolio at KAPSARC covers various issues related to global and regional economic, energy and geopolitical, policy developments, and the impact of such policies on global energy markets. Before joining KAPSARC, Jitendra was Director and Chief Consultant at HDR Salva, India. He has worked extensively as a commodity consultant within India's energy and infrastructure sectors, advising on developing commodity market entry strategies. He has authored and contributed to numerous consulting studies related to coal and coal policy in India, Indonesia, and China. Jitendra has a bachelor's degree in mechanical engineering from the University of Pune, India, and a post-graduate diploma in business management from Welingkar's Institute of Management, Mumbai.

Expertise

  • Energy policy
  • Geopolitics
  • Coal and alternative solid fuels
  • Hydrogen
  • Critical minerals and geothermal

Publications See all Jitendra Roychoudhury’s publications

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