Key facts
- India's fuel exports reached $27.2 billion in the six months to September.
- Diesel exports alone accounted for $12.6 billion.
- Export volumes for diesel fell 19% while its value rose 48%.
India's fuel exports saw a significant increase in value between April and September, reaching $27.2 billion, a 50% rise in rupee terms and 40% in dollar terms compared to the previous year. This surge was primarily driven by high global prices for diesel and gasoline, exacerbated by the Middle East crisis and a weakening Indian currency. Despite a 19% decline in diesel export volumes, its value jumped by 48% to $12.6 billion, making it the largest contributor to the export earnings. India's Oil Minister, Hardeep Puri, highlighted the country's expanding refining capacity, which is expected to reach 6.4 million barrels per day by 2032, positioning India to continue meeting global fuel demand.