Business

The effect of inflation is visible in India! Russia-Ukraine war will break people’s waist, pockets will be loose

New Delhi | Russia-Ukraine War Effect in India: Whether a war is between two people or two countries, the whole family or other countries have to suffer as a result. The same effect is now going to be felt in India as well which can increase inflation here. The people of the country are already facing the brunt of inflation. The people who were earlier affected by Corona will now have to deal with the circumstances after this war.

India’s business will be affected
Russia-Ukraine War Effect in India: India exports clothing, pharma products, electrical machinery, iron, steel, chemicals, coffee and tea to Russia. Due to which the economic income of India is strengthened. Apart from this, goods worth crores of rupees are also imported from Russia. Apart from this, India has also been doing business with Ukraine. India exports clothes, pharma products, pulses, chemicals, plastic goods, electric machinery and goods worth crores are imported from there too. Let us tell you that Ukraine is the largest sunflower growing country in the world. In such a situation, this war will also affect the prices of sunflower oil. India imports sunflower oil from Ukraine, but after the war, a jump in the prices of this oil can be seen. But after the war the circumstances will change further and India’s trade will be affected.

inflation rate

Oil prices will increase as soon as elections are over
Let us tell you that the price of crude oil is increasing continuously in the international market. But in India, assembly elections are going on in five states right now, so oil prices are not being increased, but it is believed that the price will increase as soon as the elections are over. Now you can understand how the increase in fuel prices is going to affect your pocket.

Ukraine dispute Petrol Price :

Also read:- India did not vote on the censure motion against Russia, Russia vetoed the UNSC resolution

A big impact was visible on the textile business
The impact of the Russia-Ukraine war has started affecting India’s textile trade as well. Let us tell you that India’s textile export and import work is also done from these two countries. The cloth from India is prepared and sent to these countries. But amidst the circumstances of the war, this business has come to a complete standstill and the traders have suffered a loss of about 100 crores, according to the news.

Narendra Hirani

Senior Business Journalist at youthistaan.com Follow him on twitter @NarendraHirani_

Leave a Reply

Your email address will not be published.

Back to top button