India's petroleum product exports could increase by around 25% from the FY25 level of $44.4 billion. India is one of the world's leading exporters of refined petroleum products. The increase is expected to come over the next few years as new refining capacity becomes operational by December 2026 through Indian Oil Corporation's (IOCL) largest expansion programme to date. Although India imports around 90% of its crude oil requirement, it has become one of the world's largest exporters of refined petroleum products by using its large and sophisticated refineries to process imported crude for both the domestic market and international buyers.