Impact Of Russia-Ukraine War On India And World

Abstract

Conflict between Russia and Ukraine have exposed the vulnerabilities in the financial system. The war between Russia and Ukraine is a blow to the global economy begetting rapid inflation and sluggish growth. The ongoing conflict has affected the trade routes and have disrupted supply chains globally. Western nations have unitedly condemned Russian Federation and have placed several sanctions as well as bans on Russia. These sanctions have led to an increase in prices of commodities which will negatively affect the recovery of Global and domestic economy affected by the gruelling pandemic. Russia and Ukraine make up only 2% of global economy but they make majority of many essential products. One of the countries deeply affected by the war is India. The article briefly explores the history of conflict, the global impact of the war and the impact of war on India.