Why oil at 100 dollars barely moves India now as reliance changes

India still imports most crude but uses less oil for growth

Even with crude hovering around USD 100, India is less rattled than in the past. The country still imports close to 90% of its crude, but today’s economy requires far less oil to generate growth. Shifts in energy efficiency, demand patterns, and the structure of spending mean higher prices translate into smaller economic shocks than before.