Repercussions of Russian-Ukraine War on Indian Economy

The raging war between Russia and Ukraine is a crucial debacle for all the comprehensive economies around the globe. India being the second largest importer of Russian goods was bound to experience some trembling shocks. The primary goal of this paper is to evaluate the after effects of the war on the Indian economy. The ongoing military conflict between the two nations has detrimental adverse effect on all the leading nations’ economic expansion and price volatility. In general, Russia and Ukraine are the two biggest producers of goods, but Brent crude oil is their specialty and consequently the prices of oil would apparently increase. A spike in the costs of foods items particularly the wheat will be experienced as both Russia and Ukraine export around 30% of the global supply. Global trade and finance will definitely be affected by the restrictions imposed on Russia’s supply chain networks. The main cause of concern for the Indian economy is the effect of commodities notably energy sector and the alleviating strategies by which Indian economy can get through this situation of geopolitical crisis.