INSUBCONTINENT EXCLUSIVE:
Economists say that Russia-Ukraine conflict will have direct impact on Indian economic growthAs the Ukraine-Russia conflict intensifies, it
may have an impact on Indian economy's growth in the long run, economists have said.Well known economist Mr Kirit Parekh told
TheIndianSubcontinent that already crude oil prices have touched $100 per barrel even before Russia's invasion of Ukraine
Now, after the Russian invasion, crude oil prices are under more pressure and they are likely to remain at high levels for a long time to
come.This, Mr Parekh said, will have an impact on the country's import bill.If this happens, then in the long run the country's economic
growth is also likely to slow down, he noted
economist at India Ratings, Mr Sunil Sinha said that due to Russian offensive on Ukraine, uncertainty has risen in global trade and this
will also impact oil and other commodities.He further said that all this will have a direct bearing on Indian economy, as India imports oil
the current fiscal, GDP growth stood at 5.4 per cent, lesser than 8.4 per cent growth seen in the second quarter.Rating agency ICRA has also
said that the short term impact of Russia's invasion of Ukraine on India will be through inflationary pressures, since the country is
dependent on imported oil.Some sectors like oil and gas and both ferrous and non-ferrous metals can gain through this trend, while the ones
which depend on oil as a key input, like chemicals, fertilisers, gas utilities, refining and marketing, will have a negative impact,
