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Indiaβs oil production would have been more than enough had we been a decently populated country of 30 to 50 million people. But we are unfortunately an extremely overpopulated country of 1.3 billion people. Plus our solar, wind and nuclear energy output is to small. Thus, we have to import 80% of our oil. Any rise in oil prices means, inflation, weaker rupee and a lower GDP. So are we heading towards a recession ???
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Electric vehicles are taking off majorly. So impact will not be as much as it would have been say a decade back. Freight transport by road will be affected but logistics sector is likely to just shift to rail because of the new dedicated frieght corridor which runs on electric power.
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