India has to import crude oil. what problems do you anticipate for the country looking at the above situations?
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Explanation:
India replies majorly on the import for its crude oil supply which has made India highly dependent on the states that are exporting it mainly Middle east.
Due to this dependence, India gets effected if any thing happens between the countries in the route e.g. recent tension between Iran and United States has highly effected the import of crude oil in India.
The prices have increased from normal. This resulted in the economic loss of the country.
Moreover, any obstruction in the imports severely effects the country's production and operation.
Therefore, India needs to reduce its dependence on the imports for crude oil
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