Economic Times | India facing 'economic crisis' due to huge oil imports: Transport minister Economic Times India is the third largest importer of crude oil and rising international oil prices are inflating domestic transport fuel costs in a strong demand environment. Brent, the benchmark for more than half the world's oil, is trading at a four-year high of ... India Facing 'Economic Crisis' Due to Huge Oil Imports, Says Gadkari as Markets Crash Nitin Gadkari Blames Huge Oil Imports For "Economic Crisis": Report India facing economic crisis, says Nitin Gadkari blaming huge oil imports |