Prelim Punch on Asian Premium for UPSC Civil Services Examination (General Studies) Preparation

Economic Affairs

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45:30

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Indian Economy - Understanding the basics of Indian economic system

Asian Premium

Asian Premium was in news as India is coordinating with China and other countries to raise voice against Asian Premium.

Asian Premium is extra charge being collected by OPEC countries from Asian countries when selling oil in comparison to western countries.
Under Asian Premium pricing mechanism, OPEC countries gives discriminatory treatment to Asian countries (though being largest importer of OPEC produced oil).