EFFECTS OF RUSSIA UKRAINE WAR ON INDIAN ECONOMY & THE FAILURE OF UNO

Registration ID: IJNRD_181367

Published ID: IJNRD2205064

DOI: http://doi.one/10.1729/Journal.30195

Manik Gupta , Smriti Kaushik

Russia, Ukraine, Economy, UNO, Global trade, Indian Economy.

There has been "immense human suffering" because of the Russian Ukrainian conflict, according to the World Trade Organization (WTO). The conflict between Russia and Ukraine, which erupted a few weeks ago, is threatening the global order. As a result of India's heavy reliance on commodities like oil, jewellery, fertilizers, natural gas, diamonds and edible oils; the Indian economy is suffering a lot. This fiscal year, the country's import bills are expected to rise above the USD 600 billion mark, which might lead to rise in the inflation levels and contribute to the deficit in current account. Ukraine's main export market in the Asia-Pacific region is India, with bilateral trade expected to reach 2.5 billion USD in FY 2020-21. However, India and Russia's bilateral trade in 2020-21 was estimated at 8.1 billion USD. Exporters are keeping a close eye on the current crisis's duration and intensity. This paper aims at analysing the economic impact of the Russian-Ukrainian conflict on the Indian Economy.

Published Paper   E-Certificate

Manik Gupta & Smriti Kaushik (May-2022). EFFECTS OF RUSSIA UKRAINE WAR ON INDIAN ECONOMY & THE FAILURE OF UNO. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 7(5), 587-594. http://doi.one/10.1729/Journal.30195

Volume 7 Issue 5, May-2022

Pages : 587-594

Paper Reg. ID: IJNRD_181367

Published Paper Id: IJNRD2205064

Downloads: 000122020

Research Area: Commerce

Country: Jind, Haryana, India

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Crossref DOI: http://doi.one/10.1729/Journal.30195

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

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