Global Economic Crisis and Its Multidimensional Impact on India's Economic Trajectory
DOI:
https://doi.org/10.5281/ijurd.v2i1.11Keywords:
COVID-19 pandemic, Russia-Ukraine conflict, Indian economic resilience, macroeconomic stability, crisis managementAbstract
This comprehensive analysis examines the intricate relationship between global economic disruptions and India's economic resilience during contemporary crises. While India anticipated robust growth following the COVID-19 pandemic, the subsequent Russia-Ukraine conflict introduced unprecedented challenges for the Indian economy and global markets. Our research systematically evaluates two significant international crises—the COVID-19 pandemic and the Russia-Ukraine conflict—and their cascading effects on India's economic fundamentals. We assess the shock transmission mechanisms across various economic segments, identify emerging challenges, and explore potential opportunities for India's future growth trajectory. The study meticulously analyzes impacts on GDP growth patterns, inflation dynamics, currency fluctuations, global supply chain disruptions, financial market volatility, and crude oil price variations. Additionally, we examine how economic stakeholders and businesses have strategically responded to these dual crises and their long-term implications for India's economic development.References
Bhalla, S. S. (2022). The Russia–Ukraine conflict: Implications for India’s energy security. Energy Policy, 165, 112980.
Bora, D., & Basistha, D. (2021). The outbreak of COVID-19 pandemic and its impact on stock market volatility: Evidence from India. Economic Analysis and Policy, 69, 345–358.
Chand, R., & Singh, A. (2022). Agricultural commodity markets during global crises: India’s wheat export opportunities. Indian Journal of Agricultural Economics, 77(2), 234–251.
Das, K. K. (2021). The impact of COVID-19 on the Indian economy: An empirical study. International Journal of Advanced Economics, 3(2), 45–67.
Dev, S. M., & Sengupta, R. (2020). COVID-19: Impact on the Indian economy. Indira Gandhi Institute of Development Research Working Paper, 2020(013).
Kammar, A. (2022). How war in Ukraine is reverberating across the world’s regions. IMF Blog.
Krishnan, R. T. (2021). COVID-19 and India’s supply chain vulnerabilities: Lessons for self-reliance. Vikalpa: The Journal for Decision Makers, 46(3), 147–160.
Naseeruddin, M. (2022). The Russia–Ukraine war crisis and its impact on the Indian economy. International Journal of Economics and Business Studies, 4(1), 78–95.
Patnaik, I., & Sharma, S. (2022). Global economic uncertainty and India’s growth prospects. National Institute of Public Finance and Policy Working Paper, (342).
Reddy, Y. V. (2021). Indian economy and the pandemic: Challenges and responses. Reserve Bank of India Bulletin, 75(8), 1–15.
Rubesam, A., & Raimundo Junior, G. d. S. (2021). COVID-19 and herding in global equity markets: Evidence from BRICS nations. Journal of Behavioral Finance, 22(4), 341–358.
Sharma, R., & Verma, M. (2022). Russia–Ukraine war impact on emerging markets: Evidence from India. Economic and Political Weekly, 57(12), 23–29.
Subramanian, A. (2022). India’s economic resilience amid global crises: A structural analysis. Harvard Kennedy School Working Paper, RWP22-008.
Topcu, M., & Gulal, O. S. (2020). The impact of COVID-19 on emerging stock markets: A comparative analysis. Finance Research Letters, 36, 101691.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 Kanika, Sakshi
This work is licensed under a Creative Commons Attribution 4.0 International License.
