As the West Paces Towards Recession, India's Economy Stands Strong

 


Threats of a recession are hardly new. With the Covid-19 pandemic dominating the economic policies of the world for the better part of two years, a global economic slowdown was always on the charts. However, the damage caused by the pandemic could have been averted, had the global supply chains been replenished on time. That does not seem to have happened. Having said that, threats of an all-out recession were still low. Now, though, the devastating effects of the war in Ukraine are beginning to weigh in on leading economies around the world. Energy prices have skyrocketed, and inflation rates have seemingly spiralled beyond the control of governments. For developing and poor nations, the risk of a food security crisis is also on the horizon.

By:  Sanbeer Singh Ranhotra

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