New Delhi: For the past few days, the eyes of the whole world are on the Ukraine-Russia border. Due to increasing military tension between the two countries, the threat of World War III is looming over the world. Now the danger of this war is not limited to Eastern Europe only, but America and India are also coming under its grip. There is an all-round sell-off in the stock markets of the whole world. Due to this tension, India's economy and trade can suffer a lot. According to the data on the website of the Embassy of Ukraine located in India, in 2020, there was a trade of $ 2.69 billion between the two countries (India Ukraine Bilateral Trade).
In this, Ukraine exported goods worth $ 1.97 billion to India, while India exported goods worth $ 721.54 million to it. Let us tell you that Ukraine exports essential machinery like Fat&Oil of Veg Origin, Fertilizer, Nuclear Reactor & Boiler to India. Wherein India sells medicines and electrical machinery to Ukraine. Delhi University professor and strategic affairs expert Dr Sudhir Singh says that this dispute can create diplomatic problems for India.
India will have to take its stand when tensions escalate and a situation of widespread war is created. In such a situation, supporting either America or Russia can have far-reaching effects. This crisis is causing problems for India, which is clearly visible from India's stand in the voting of the Security Council. Financially also India may face challenges. India is largely dependent on imports in terms of crude oil and Russia is one of its major suppliers. If the price of crude oil increases, then there will be a risk of increasing inflationary pressure at the domestic level along with the increase in the import bill. Along with this, a large number of Indian students are studying medicine in Ukraine. If war happens, India will also have to worry about their safety.
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