Amid the increased tensions between Russia and Ukraine, many are speculating that this could be the beginning of the third World War.
The tensions between Russia and Ukraine are seemingly increasing with each hour, soon after the Russian military launched an attack in the country, reportedly killing over 40 Ukrainian soldiers and injuring several dozen more.
According to the Ukrainian police, the Russian forces have launched more than 203 attacks on the country on Thursday, leading up to a full-scale invasion. Amid this, many countries, most of the West and part of NATO have urged Russian President Vladimir Putin to put an end to this conflict.
As the conflicts between the two nations are attracting reactions from a lot of countries, it is likely that the West will intervene in this war-like situation. If tensions prevail, it is likely that the Russia-Ukraine conflict can be the beginning of World War 3.
Though the start of the World War 3 is just speculation at this point, many are wondering how a global war situation can impact India and its economy. Here’s a look at some of the possible outcomes in India if World War 3 begins.
Impact on trade
Currently, the Russia-India trade value stands at around 9 million dollars annually, and it contributes to roughly one percent of the global trade of India. If a war erupts, then this trade is expected to be heavily hampered, leading to a severe impact on the economy.
Impact on defence supplies
If the trade with Russia is impacted in India, it could lead to a major impact on the defence supplies of the country, weakening its response to any potential security threat in the country.
International relations
Russia and China currently maintain a good relationship and it is likely that in the event of war, Russia will not restrain China from heightening its conflict with India. This could have a severe impact on India’s relations with Russia, and lead to a security crisis.
Crude oil and energy supply
The Russia-Ukraine crisis has already led to a major hike in the price of crude oil in just one day. It is expected that if World War 3 starts, the price of crude oil will be through the roof, impacting the energy supply of India.
Impact on stock market
Soon after the attack on Ukraine by Russian forces, Sensex took a major hit, tumbling over 2,700 points in a few hours. It is expected that the global and national stock market will witness a bloodbath if World War 3 begins.
Meanwhile, Prime Minister Narendra Modi spoke with Russian President Vladimir Putin over the Ukraine crisis and appealed for an immediate cessation of violence as well as concerted efforts from all sides to return to the path of diplomatic negotiations.
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 "Ukraine-Russia crisis: Amid rising fears of World War 3, know how it can impact India")
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