ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The commodities imported to India include petroleum and petroleum product are in percentage of
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28.6
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38.9
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28.7
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28.5
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Explanation:
Detailed explanation-1: -India has an 82.8% import dependence for crude oil and 45.3% for natural gas.
Detailed explanation-2: -In the pandemic year 2020-21, over 84 percent of India’s petroleum product demand (crude oil and petroleum products) was met with imports. Gross petroleum imports of about 239 million tonnes (MT) of value US$77 billion accounted for over 19 percent of India’s total imports in 2020-21.
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