The clouds of World War III are now gathering on the world map. If the war between Ukraine and Russia escalates, it is expected to have a major impact on India. There has been no increase in petrol and diesel since November 3. Elections are currently underway in five states. Petrol and diesel prices may go up after March 10. At present, the price of crude oil has reached $105 per barrel. That is the highest level in the last eight years. Gold and silver prices have started rising sharply. Gold has reached 52,000 per 10 grams. Silver has gone up to Rs 60,000. Steel prices have gone up. The war will also create problems for the defence equipment that India receives from Russia. India imports about 60 per cent of its defence equipment from Russia. It will also affect trade with Russia. As of 2021, India had imported 280 million from Russia and exported 550 million in the same year. War will cause problems. Also, large quantities of edible oil are imported from Ukraine. A fall in the exchange rate will push up inflation. The automotive sector will feel the big impact. Inflation will rise in all sectors. In addition, today 20,000 students are studying engineering and medical education in Ukraine. They have to come to India because of the war. Today, Ukraine has called on India to mediate in the global effort to end the war as soon as possible. We have friendly relations with Russia. Therefore, India's role can be very big and it can have an impact in world politics.
Shantaram Wagh, Pune
