Trends in India's exports of petroleum & crude products: A comprehensive analysis
Sumit Kumar, Priyanka and Anita Rani
This research paper provides a comprehensive analysis of India's exports of petroleum and crude products, examining the trends, factors, implications, and future prospects. The study covers the period from March 2008 to March 2023 and utilizes export values and year-on-year percentage change to identify key patterns and fluctuations in export performance. The analysis considers factors such as global oil prices, market demand, refining capacity, government policies, international trade relations, geopolitics, and technological advancements. The research reveals that India's petroleum and crude product exports have experienced both growth and decline over the years. The analysis highlights significant periods of growth, such as in 2011 and 2018, as well as periods of decline, notably in 2016 and 2021. Factors such as global economic conditions, oil price fluctuations, and the COVID-19 pandemic have impacted export trends. Comparative analysis with global trends demonstrates the market share and competitiveness of India's exports, as well as the potential for diversification and expansion into emerging markets.