ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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MAHARASHTRA- Shivaji lmage Smudged

October 2, 1971 While the example of West Germany and Japan, which are for larger consumers of crude, may be only of limited relevance to India, developments in the West Asian oil market are propitious for making new arrangements for crude imports which will be advantageous to both India and the oil producing countries. The growth of national oil companies in these countries and their anxiety to establish direct links with consumers open up prospects for making new arrangements between them and India. In this context the trade agreement with Iraq is of great significance.

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