NEW DELHI: India incurred an estimated $22 billion in gross additional fossil-fuel import costs between March and August 2026, following the energy-price shock triggered by the Hormuz crisis, making it the second-most affected importing country after China. According to an analysis by the Centre for Research on Energy and Clean Air (CREA), India’s net additional cost for crude oil stood at $20.5 billion.
Economic Impact
In terms of economic impact, India’s net additional . . .
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