According to government data, during 2024-25 (April-March) India imported around 300 million metric tonnes of crude and petroleum products, meeting about 88% of the requirements through imports.
Global economic growth is expected to remain resilient in 2026, with India continuing to be one of the fastest-growing major economies, according to Goldman Sachs' Global Economics Analyst Report Macro Outlook 2026.
2026 is likely to be "fairly bearish" for global energy markets with most metals likely to be "better supported" on account of tighter fundamentals, financial services company ING said in a report.
In a report, the DBS Group Research analysts shared three key takeaways from the move. The Summary of Economic Projections (SEP) indicates Goldilocks in 2026, it said. GDP growth was boosted to 2.3% from previously 1.8% while core PCE inflation was shaved down to 2.5% from 2.6%.
Gold prices could move close to USD 5,000 per ounce in 2026, supported by strong official sector buying, tightening supply conditions and stabilising investor flows, according to a new research report by Deutsche Bank.