THE AGE OF GEO-POLITICAL APES: OUTCOME FOR INDIA AND THE EMERGENCE OF ECONOMICS AS SUPREME

The recent war in Ukraine has led to the creation of a new world trade order. This article explores the emergence of a new trade world order post the ongoing war in Ukraine with nations changing their sails, which however may not be a sustainable option in the long run due to economic considerations. While the western nations led by the USA have imposed sanctions against trading with Russia, India is reticent on the same citing economic reasons. On the contrary, it is considering the situation as an opportunity to purchase low-priced oil from Russia to control inflation, narrow the countrys current account deficit and arrest the falling value of the rupee against the dollar. This research studies the pros and cons of this strategy for India and gives the reasons why India should opt for an alternative to its present-day dependency on Russia and other nations for its crude oil requirements.