This growth will provide jobs. Jobs will provide buying power. Buying power will provide increased demand for oil. You see, the main driver behind India’s GDP growth is manufacturing. Manufacturing increases the number of goods that need to be moved around on ships and trucks. And it raises the standard of living for millions of workers… For the first time, the Indian people have extra spending money. And they’re using it. According to KnowIndia.net’s “Overview of the Indian Auto Industry,” Indians purchased a record 20.47 million new cars in fiscal 2016.
Increased auto sales across the Asia-Pacific forecast the growing need for oil in the region…
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