STRAIT OF HORMUZ
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🇮🇳India & the Strait of Hormuz

India is the world’s third-largest oil consumer and imports about 85% of its crude oil, with roughly 55–65% of those imports originating from Persian Gulf states and transiting the Strait of Hormuz.

Energy Profile

Oil Consumption
~5.5 million barrels/day
Hormuz Dependency
55–65% of oil imports
Key Suppliers
Iraq, Saudi Arabia, UAE, Kuwait, Nigeria, Russia
Strategic Reserves
~65 days (strategic + commercial)
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Key Facts

  • Third-largest oil consumer and importer in the world
  • Oil import bill is India’s largest single import expenditure
  • Growing LNG imports, mostly via long-term Gulf contracts
  • Home to the world’s largest refining complex (Jamnagar, Gujarat)
  • Rapidly growing economy with increasing energy demands

Vulnerabilities

  • Oil imports represent ~25% of total import bill, heavily affecting trade balance
  • Subsidy regime means government absorbs price shocks, straining fiscal position
  • Relatively small strategic petroleum reserves compared to consumption
  • Large population highly sensitive to fuel and food price increases

Mitigations

  • Diversifying oil imports with increased Russian crude purchases
  • Building strategic petroleum reserves at Visakhapatnam, Mangalore, and Padur
  • Aggressive push for solar and renewable energy capacity
  • Expanding domestic natural gas production
  • Active diplomacy maintaining relations with all Gulf states and Iran
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Historical Context

India’s oil dependency has grown steadily as its economy has expanded. Unlike Japan and Korea, India has historically maintained close diplomatic ties with Iran, giving it some strategic flexibility. However, US sanctions have complicated this relationship. India’s strategic petroleum reserves, while growing, cover only about 10 days of consumption at government-owned facilities — far less than IEA-member stockpiles.

Other Affected Regions

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Japan
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South Korea
🇨🇳
China
🇪🇺
European Union
🌏
Southeast Asia
🇺🇸
United States
🇦🇺
Australia
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Middle East (Gulf States)
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