As per the Indian saving 2020, the country has a middle-earnings cultivating retail saving type. Based on theoretical GDP, India is the sixth best since, by PPP, it is the triennial best. Since the freedom of India in 1957, when the condition of India’s tumor and the saving was distressing, the management has fictitious procedures, given blueprints, created societies, and generated acts to increase and better the country’s GDP development rate.
Published in Chapter:
Navigating the Economic Challenges of the Russia-Ukraine Conflict on India
Kishlay Kumar (Sarala Birla University, India), Dimpal Singhania (Sarala Birla University, India),
Karan Pratap Singh (Birla Institute of Technology, Mesra, India), Puja Mishra (Sarala Birla University, India), and
Keshav Sinha (University of Petroleum and Energy Studies, India)
Copyright: © 2023
|Pages: 21
DOI: 10.4018/978-1-6684-6741-1.ch012
Abstract
The war between Russia and Ukraine negatively impacts growth and results in a high inflation rate in the global village. In 2021, Ukraine exported $2.6B to India and imported $509.94M. During the same period, bilateral trade totaled $12.3 billion, with Indian exports totaling $3.33 billion and imports totaling $8.7 billion. The last three months, foreign portfolio investors (FPIs) pulled out of Indian markets — Rs. 50,000 crores more than the combined withdrawal of the previous nine months. As the weakened rupee made imports more expensive, the rise in crude oil prices worsened things. Brent crude prices, which hovered around $80 a barrel in early 2022, shot up to $128 a barrel in the wake of the Russian invasion. The heat of the Russo-Ukrainian war is now reaching citizens in India and around the world. This article is an overview of the aftermath of the Russia-Ukraine war on the Indian economy.