India at "take off" stage-I: Dramatic shift in consumption in 2015 sets the trend – 31 Mar 2016

There is a dramatic shift in consumption of petroleum products in 2015. Year on year demand growth has jumped up to 0.30 million barrels per day in comparison to 0.1-0.15 mb/d over the previous decade.
-- The jump is extraordinary in its persistence over a one-year period, promoting a comparison with the Chinese model. Chinese demand took off a decade and a half ago during the country's industrialization boom.
-- Chinese consumption is now slowing down just as India's is taking off.
-- Indian demand failed to take off earlier on account of political paralysis, high oil prices and burgeoning fiscal deficit but 2015 has seen a 'new India" emerging with a record jump in oil production.