India braces itself for economic impact of Ukraine crisis

With supplies to India severed, cooking oil prices are set to go up, adding to ongoing inflationary woes. PHOTO: AFP
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NEW DELHI - The Ukraine crisis has stirred economic uncertainty for India, bringing disruptions ranging from sourcing sunflower oil, particularly popular in South India cooking, to the fate of its defence imports from Russia.

Russia's full-scale military invasion of Ukraine, which has sent tremors through the world economy and sent oil prices up on the fears of disruptions, comes at a time when the Indian economy was emerging from an Omicron-fuelled third Covid-19 wave and normalcy was returning.

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