India’s Oil Intensity Halves to 0.7% of GDP as EV Shift Gathers Pace: SBI Research

July 3, 2026July 2, 2026 Curated and reviewed by Deepak Chavan

Infographic showing India's declining oil intensity: oil consumption to GDP at 0.7 per cent in FY26, crude imports at 3.1 per cent of GDP and EV registrations averaging 2.3 lakh a month

India’s oil intensity, defined as oil consumption as a share of GDP, has halved from 1.4 per cent in FY14 to 0.7 per cent in FY26, according to SBI Research. Crude oil imports have fallen from a peak of 8.6 per cent of GDP in Q2 FY14 to 3.1 per cent in Q2 FY26. The report, released on July 2, 2026, says this structural decline explains India’s economic resilience through the West Asia crisis.

Electric vehicle registrations have averaged 2.3 lakh a month since the conflict began in February 2026, against 1.3 lakh in 2025. SBI Research argues that a comprehensive EV policy could hasten the fall in oil intensity and save Rs 1 lakh crore on the import bill by 2030.

India Moves to Put a Monetary Value on Coal Assets Under New Accounting Framework

July 3, 2026June 27, 2026 Curated and reviewed by Deepak Chavan

India coal asset valuation framework MoSPI SEEA 2026

India coal asset valuation is moving to the centre of national policy as the Ministry of Statistics and Programme Implementation (MoSPI) proposes a new accounting framework that assigns a monetary worth to the country’s underground coal reserves. Rather than tracking coal purely through production and consumption volumes, the proposed methodology would treat coal deposits as natural capital assets, estimating their present economic value using the Net Present Value (NPV) method and internationally recognised environmental accounting standards.