Russia-Ukraine conflict to impact Indian economy??
Russia-Ukraine conflict to impact indian economy??
Due to the ongoing war between russia and Ukraine, both the countries as well as other countries are being affected economically. India's well-known economist Brinda Jagirdar has given her opinion on the impact of the Russia-Ukraine conflict on the indian economy.
Brinda pointed out that india imports fuel, oil, mineral oil from Russia. Now, in the event of this conflict, if the price of crude oil increases, the import bill will also increase, the current account will increase, the value of the rupee will decrease, the import cost will increase and we will import inflation.
The pressure on the government will increaseAt the same time, the pressure on the government will increase, due to which the subsidy will have to be increased, the subsidy of petrol, kerosene, crude, and the physical deficit will increase.
Things to be imported from RussiaEspecially defense equipment, fertilizers, machinery, edible oil, gems, and jewelry are imported from Russia. Now their price will also be affected due to which their price may increase.Things to be exported to RussiaIndia exports pharmaceuticals, tea, auto parts, broadcasting equipment, electrical machinery to Russia. Now trade will be affected due to war, due to which the import of these things will also be hampered.
Route interrupted due to rustDue to the ongoing war between russia and Ukraine, trade routes, port routes have been affected, due to which exports and imports are being affected. At the same time, negative effects are also being seen on the supply chain, car component, semi-conductor. Brinda said that russia had a total import of 5.5 billion in December. There were 2.6 billion exports. Now it may take time for the business to improve. There is an inflation rate of 7 percent in America, Britain, which has broken the record of the last several decades. Now RBI will also have to prepare a strategy to maintain it. india has very few options, so now the percentage will have to be increased.
Due to the ongoing war between russia and Ukraine, both the countries as well as other countries are being affected economically. India's well-known economist Brinda Jagirdar has given her opinion on the impact of the Russia-Ukraine conflict on the indian economy.
Brinda pointed out that india imports fuel, oil, mineral oil from Russia. Now, in the event of this conflict, if the price of crude oil increases, the import bill will also increase, the current account will increase, the value of the rupee will decrease, the import cost will increase and we will import inflation.
The pressure on the government will increaseAt the same time, the pressure on the government will increase, due to which the subsidy will have to be increased, the subsidy of petrol, kerosene, crude, and the physical deficit will increase.
Things to be imported from RussiaEspecially defense equipment, fertilizers, machinery, edible oil, gems, and jewelry are imported from Russia. Now their price will also be affected due to which their price may increase.Things to be exported to RussiaIndia exports pharmaceuticals, tea, auto parts, broadcasting equipment, electrical machinery to Russia. Now trade will be affected due to war, due to which the import of these things will also be hampered.
Route interrupted due to rustDue to the ongoing war between russia and Ukraine, trade routes, port routes have been affected, due to which exports and imports are being affected. At the same time, negative effects are also being seen on the supply chain, car component, semi-conductor. Brinda said that russia had a total import of 5.5 billion in December. There were 2.6 billion exports. Now it may take time for the business to improve. There is an inflation rate of 7 percent in America, Britain, which has broken the record of the last several decades. Now RBI will also have to prepare a strategy to maintain it. india has very few options, so now the percentage will have to be increased.