Europe is emerging as the top buyer for India's petroleum products
Petroleum products are the most traded items of India. India stands 3rd on the list of world's leading petroleum exporters whereas 12th biggest exporter globally. India's petroleum products exports have risen significantly during fiscal year 2023. According to India import export data reports, the country's mineral oil exports were recorded to be $90 billion last year. In 2023, Bhutan, Nepal, United Arab Emirates, Netherlands, United States, Singapore, Togo, and Brazil were the prominent markets for mineral fuels export markets to India. India export data suggests the Netherlands was the top mineral fuel importer from India with imports worth over $9.5 billion in 2023. Also, there was a notable increase in the exports to the European market. The Netherlands, United Kingdom, Romania, France and Spain have emerged as the top markets for India's mineral fuels and oils exports. Bharat Petroleum, Indian Oil Corporation, Reliance Industries and Hindustan Petroleum were...