# West Asia war reshapes India’s oil export destinations

2026-08-11T00:42:32+00:00 | World & Diplomacy | Indian Opinion Desk

Corroboration: 3 independent outlets

India’s exports rose 19.63% to $44.24 billion in July, with petroleum product shipments surging 67.64% year-on-year to $6.92 billion, Times Now reports. The West Asia crisis has opened new markets for refined oil, with Italy and Spain leading growth. Italy saw oil exports jump from $2 million to $478 million in the first quarter, while Spain rose from $4 million to $252 million. Singapore has become India’s third-largest goods export destination, overtaking the Netherlands and the UAE, as oil products now make up 77% of exports to Tanzania. However, imports outpaced exports, widening the trade deficit to a six-month high of $31.98 billion in July. The commerce secretary attributed higher outbound shipments to petroleum, electronics, and engineering goods, reports The Hindu.

## Coverage

- timesofindia.indiatimes.com <https://timesofindia.indiatimes.com/business/india-business/oil-product-exports-find-many-new-markets/articleshow/133139691.cms>
- thehindu.com <https://www.thehindu.com/business/Economy/indias-exports-rise-1963-to-4424-billion-in-july-trade-deficit-widens-to-3198-billion/article71340628.ece>
- timesnownews.com <https://www.timesnownews.com/business-economy/economy/trade-deficit-widens-to-six-month-high-in-july-imports-surge-to-nine-month-high-article-155606651>

Tags: oil exports, Singapore, Tanzania, West Asia crisis, windfall tax
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