OPPORTUNITIES AND CHALLENGES OF RUSSIA-UKRINE WAR FOR INDIA

Abstract

Russian invasion of Ukraine and the subsequent sanctions on its economy have sent global food prices soaring, threatening to push millions of people, especially those in low-income countries, into starvation. The painful negative impact of supply disruptions across the globe is disproportionately affecting Low and Middle Income Countries in Africa and Asia. In import-dependent countries of world ,prices of food staples reached levels never seen before, amplifying inequality, hunger, and poverty This has made its impacts felt on the Indian economy also. The war in Ukraine has strained the Indian economy but, as the West decouples from China, it has also brought opportunity India's way.Many observers worry that the impact on India’s economy could be severe; others are sanguine that India’s economy is insulated from the effects of a war that is very far away .