Abstract

This report presents an Indian country case study of oil dependencies and vulnerabilities to oil price and supply shocks. India represents the lower-middle income country category. The case study is organised according to five subsystems of the socio-economic system, namely: energy; transport; agriculture; macro-economy; and society. Each of the first four major sections includes a brief overview of the subsystem, an analysis of its oil dependency, and a discussion of the likely impacts of oil shocks under business-as-usual policy environments. Section 5 analyses important characteristics of contemporary Indian society that increase its social vulnerabilities to oil shocks. The concluding section provides a summary of key strengths, vulnerabilities and likely impacts of oil shocks in each of the five subsystems.