India's oil imports nearly double to $119.2 billion in FY22

India imported 212.2 million tonnes of crude oil, worth $119.2 billion, in the fiscal year that ended on March 31, Petroleum Ministry's data showed. This is nearly double the $62.2 billion that India spent on 196.5 million tonnes of oil in the previous fiscal. India bought $13.7 billion-oil in March alone, when oil prices surged to 14-year high.