Abstract

The war between Russia and Ukraine is a major challenge to the world economy. The whole world economy could
be seen to experience slower growth and faster inflation due to this war. India has no exception from this turmoil’s
impact. India’s economy is still in the process of recovery from the Covid pandemic. Again the crisis in Ukraine
and Russia put a challenge to Indian economy. The war has sent oil prices spiraling which have raised concerns to
India’s economic recovery. The war between Russia and Ukraine enhance the prices of diesel and petrol as well as
vegetable oils. These products are become very expensive. India is a major importer of these commodities from
Russia. So, India’s development is going to be disturbed by this situation. In this background this article is an
attempt to show the economic challenge of the Russia-Ukraine war in different spheres of Indian economy.