India and Gulfs

India and Gulfs

➖ UAE was India’s third largest trading partner in 2021-2022, and second largest for both exports and imports.

➖ Saudi Arabia was India’s fourth largest trading partner. Imports from Saudi Arabia were the fourth largest, most of it was crude oil.

➖ Iraq was India’s fifth largest trading partner in 2021-22.

➖ Qatar is India’s most important supplier of natural gas. Qatar accounts for 41% of India’s total natural gas imports. The UAE accounts for another 11%.

➖ The share of Persian Gulf countries in India’s crude imports has remained at around 60% over the last 15 years.

➖ In 2021-2022, the largest exporter of oil to India was Iraq.

➖ Saudi Arabia has accounted for 17-18% of India’s oil imports for over a decade.

➖ Iran used to be the second largest oil exporter to India in 2009-2010, its share went down to less than 1% in 2020-21, due to US sanctions.

➖ More than 84% of India’s petroleum demand, which included crude oil and petroleum products, was met with imports.

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