The war between Russia and Ukraine has intensified. In such a situation, its impact is clearly visible in the world, including India, and because of this, all the countries are eyeing the situation in Ukraine at this time. Today is the fifth day of the war and on the fifth day i.e. On Monday, Finance Minister Nirmala Sitharaman during a press conference expressed concern over the impact on trade relations with Ukraine. Recently, the Union Finance Minister said, "The government is concerned about the impact of the Russo-Ukraine conflict on India's foreign trade, especially exports of the agriculture sector. In a post-Budget interaction with trade and industry leaders in Tamil Nadu, Sitharaman said, "The government is closely monitoring the emerging situation in the Russia-Ukraine region and assessing the impact of the conflict on the country's trade."
The Finance Minister further said, "As far as the impact of this war on our immediate imports and exports to Ukraine is concerned, we are deeply concerned about this. The situation in Ukraine will affect several other sectors in India, including crude oils. In addition, we are also serious about what this conflict will do to our exporters, especially the farming sector of Russia and Ukraine. She said that we are seriously discussing these two issues.''
She further said, "The government is already facing an emergency situation and in this crisis period, I will have to make a full assessment through various concerned ministries and only after that a clear comment can be made on that." However, we have understood the matter well because it is going to have an impact on the essentials to come.'' The Finance Minister further said that India is seriously looking into the impact on exports and imports due to the ongoing war between Russia and Ukraine and the Import Bill is also being considered for this purpose.
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