The forecast for direct transfer on petroleum for fossil fuel production in India from 2024 to 2028 shows a steadily increasing trend. In 2023, the value stood at approximately 238.5 million US dollars. From 2024 to 2028, the values rise from 241.83 million to 253.34 million US dollars. This represents a year-on-year increase of roughly 1.4% to 1.5%. The Compound Annual Growth Rate (CAGR) over this period is estimated to be about 1.53%.
Future trends to watch for include changes in government policies regarding fossil fuel subsidies and the impact of global energy transitions towards renewable sources. Additionally, market dynamics such as international crude oil prices could significantly influence funding allocations in this sector.
