New Delhi: Finance Minister Nirmala Sitharaman described the Russia-Ukraine developments as a challenge for global economic recovery, particularly India's recovery from the COVID-19 pandemic, and expressed hope that peace would be restored as soon as possible.
"The newer challenges arising in the world would pose a challenge to India's progress." "Peace is endangered, and this influence on the globe has probably not been felt since the Second World War," she said on Friday evening, in her first official statements on the economy's prospects since Russia's invasion of Ukraine on Thursday.
"Hopefully, some type of restoration of peace will occur as soon as possible, allowing for long-term recovery. Today, no single country can plan for its own recovery, especially in an era when global value chains have already drawn us closer together. However, when value chains face challenges and dangers as a result of these types of disruptions, our recovery would be significantly delayed, not only for India, but for all countries "In her speech at the Asia Economic Dialogue 2022, she stated.
"For the sake of the planet's and humanity's well-being, we must ensure that this recovery is sustainable and that it continues without interruption. That is my goal for our efforts and approach to recovery to be made constantly feasible in real time, not hampered "The finance Minister concluded.
Oil prices rising due to tensions between Russia and Ukraine
