India, the world's third-largest energy-consuming and importing nation, is pinning hope on resumption of crude oil supplies from Venezuela and Iran as well as higher production from OPEC+ nations to help cool international oil prices that have hit multi-year highs.

Centre for Economics and Business Research (CEBR) said in an annual report, that India will have surpassed Germany in terms of GDP by 2027 and Japan by 2030.