He added that the oil import bill is likely to be lower in FY25 against FY24 in rupee terms.
India's net oil and gas import bill stood at $89 billion in April-November of FY25, against $79.6 billion a year ago. In FY24, the net oil and gas imports had touched $121.9 billion.
Moreover, the weakening of the rupee should have a limited impact on the country's negotiations and pricing with oil-exporting countries as most of the trade happens in dollar terms, analysts say. Icra expects the dollar-rupee pair to trade between 85 and 86 in the near term. The country is also a major importer of coal, given the need to run thermal power plants at plant load factors. There are units run specifically on imported coal. It is estimated that for every ₹1 change in the exchange rate, the cost of generation for imported coal-based power projects is expected to vary by 4 paise per unit.
هذه القصة مأخوذة من طبعة December 27, 2024 من Financial Express Delhi.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة December 27, 2024 من Financial Express Delhi.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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\"THE COST OF imports of oil & gas will increase with a weakening rupee. However, with the decline in oil prices to $70-75 per barrel now, the impact of weakening rupee would be offset,\" said Girishkumar Kadam, senior vice-president & group head - corporate ratings, at Icra.
