Though India has not moved on from Iranian Oil this year and likely will not do so, having found an option through OBC to complete purchases with Iran, the deficit is still the once is a quarter, $14.7 bln as Exports underperform Import growth by half, $25.4 bln in Exports belying their growth while India unlike other Asian and European economies, unable to cap import growth as domestic demand and growth of 6% claim higher 20% growth in Imports to a yearly average bill remaining at just under $40 bln, th bill coming to $40.1 blln iin January 2012
India imports 550,000 bpd from Iran even as China corners an additional 200,000 bpd from Saudi Arabia
