 "Demonetisation impact: India's oil demand shrinks compared to China in 2017")
Demonetisation might have given political brownies to Narendra Modi government through recent poll victories. However, it dragged India back in terms of oil demand compared to rival China in 2017.
According to a Platts Analytics report, oil demand in India during the first quarter (Q1) of 2017 rose by a marginal 0.4 per cent, as against to 2.2 per cent in China. This was compared to an expected oil demand growth between 6-7 per cent in India in 2017, versus China’s demand growth of about 2 per cent.
“The sudden announcement by the Modi government of the demonetisation exercise late
