Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Opinion
  • Feature
  • Timeout
  • Entertainment
  • Sports
  • Sci-Tech
  • Others
    • COVID-19
    • Today’s Pic
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Opinion
  • Feature
  • Timeout
  • Entertainment
  • Sports
  • Sci-Tech
  • Others
    • COVID-19
    • Today’s Pic
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Russia-Ukraine war: Many sectors of Indian economy to face adverse effects

IANS
Updated: March 7th, 2022, 19:38 IST
in Business, Home News, International
0
Russia-Ukraine war

PTI file photo

Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi: Russia’s invasion of Ukraine, and the flurry of punitive sanctions imposed on Moscow by the US and Europe, can have an adverse impact on India. It will happen due to the resultant spike in commodity prices. If these prices are not passed on, they can increase input costs and squeeze the margins of downstream sectors. Two, trade and banking sanctions can cull India’s export-import activity in the affected region till workarounds are found, Crisil said.

On the other hand, a few sectors such as steel and aluminium may benefit from rising prices. Net-net, the impact of the ongoing war will vary by sectors.

The price of Brent crude has skyrocketed above $125 per barrel from $97 before the Russian invasion began. Without a commensurate increase in retail fuel prices, oil marketing companies are already making losses. The impact of this is also being felt by sectors such as chemicals and paints, which use crude oil-linked derivatives as their primary feedstock. These sectors may see some margin squeeze that could extend well into the first quarter of next fiscal, as inventories bought previously at lower prices run out, Crisil said in a report.

Other commodities will also see further cost inflation. Steel and aluminium (Russia contribute 6% of global primary aluminium production) prices, which had shot up in recent times from their already-high levels, will have an upward bias.

While this would benefit domestic primary steel makers and aluminium smelters because their realisations will rise, it would cascade negatively for the construction, real estate, and automobile sectors.

Also read: Ukraine war ‘catastrophic for global food’

Spot prices of natural gas, which are also linked to crude, could continue to climb. But this won’t impact the downstream sectors as much. Urea makers, which use it as feedstock, can pass on the higher prices. But if the war prolongs, domestic availability of urea could become a bother for the farm sector because 8 per cent of the requirement is imported from Russia and Ukraine.

Similarly, city gas operators have favourable cost economics versus competing fuels, which could permit them to pass on the gas price inflation downstream — at least to an extent.

Trade and banking-linked sanctions can also impact sectors sourcing key raw materials such as crude sunflower oil and rough diamonds. Nearly 10 per cent of India’s edible oil consumption is sunflower based, of which 90 per cent is imported from Russia and Ukraine. An extended war could disrupt supplies to domestic oil mills, which typically carry an inventory of 30-45 days and have limited options to change their sourcing at short notice.

For diamond polishers, continued disruption of trade can make roughs costlier, leading to a squeeze on their margins.

Alrosa, Russia’s largest diamond miner, accounts for 30 per cent of the global production of roughs, the prices of which had surged 21 per cent in 2021.

The automobile sector is unlikely to get a respite from the ongoing semiconductor shortage. That’s because Russia and Ukraine produce 75 per cent of the neon gas used to manufacture semiconductors. A protracted strife, and sanctions on Russia, would further curtail semiconductor production. Import dependence on palladium and platinum, which are used in catalytic converters, and nickel, which is used as a cathode in lithium-ion batteries, is relatively low and hence may have only a minimal impact on the automobile sector.

The pharmaceuticals sector may see only a marginal impact as its exports to Russia and Ukraine are currently exempt from sanctions, and the exposure of Indian drug makers to these geographies is low at 3 per cent of their total exports, Crisil further stated in its report.

 

Tags: Automobilecommoditycrude oilDiamondEconomyRussiasemiconductortradeukraine
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

Related Posts

SC to hear Shiv Sena’s plea against floor test at 5 pm

June 29, 2022
Sanjay raut

Maha Governor’s floor test order ‘unlawful’: Sanjay Raut

June 29, 2022

51 killed, 24 injured in Colombian prison riot fire

June 29, 2022
Sensex

Sensex falls 565 points in early trade on weak global market trends

June 29, 2022

Rupee hits record low of 78.96 against US dollar in early trade

June 29, 2022

India records 14,506 news Covid-19 cases, 30 deaths

June 29, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

Plastic Free Odisha

Odisha Rajya Rogi Adhikar Mancha & Mangalabagh International Club workers

Odisha Rajya Rogi Adhikar Mancha & Mangalabagh International Club Workers support a plastic free Odisha. Do you? *Visit our website ...

October 2, 2018
Plastic Free Odisha

Naveen Jindal-Enterpreneur

Naveen Jindal support a Plastic Free Odisha. Do you?  *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your Photos/Selfie ...

August 30, 2018
Plastic Free Odisha

Nayagarh Girls’ High School

Nayagarh Girls’ High School students support a plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

October 2, 2018
Plastic Free Odisha

Bijay Mohanty, Actor

Actor Bijay Mohanty calls for a Plastic Free Odisha. Have You Joined the movement? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our ...

August 30, 2018
Plastic Free Odisha

National School Kujang

National School students Kujang Jagatsinghpur district support a plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook ...

October 2, 2018
Plastic Free Odisha

Gandhi Science Higher Secondary School in Khandagiri, Bhubaneswar

Gandhi Science Higher Secondary School students of Khandagiri, Bhubaneswar support a plastic free Odisha. Do you?   *Visit our website ...

October 2, 2018
Plastic Free Odisha

Olympian Dutee Chand

Olympian Dutee Chand calls for a Plastic Free Odisha. Have You Joined the movement? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our ...

August 30, 2018
Plastic Free Odisha

Kalamatia Sahid Bidyapitha students

Kalamatia Sahid Bidyapitha students support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post ...

October 2, 2018
Plastic Free Odisha

Olympian Anuradha Biswal

Olympian Anuradha Biswal supports a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post ...

August 30, 2018
Plastic Free Odisha

Puri SCS College Students

Puri SCS College Students support a plastic free odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) ...

August 30, 2018
Plastic Free Odisha

Govinda Poddar-Odisha Ranji Team Captain

Govinda Poddar, Odisha Ranji Team Captain  calls for a Plastic Free Odisha. Have You Joined the movement? *Visit our website ...

August 30, 2018
Plastic Free Odisha

Swaraj Barik, Actor

Swaraj Barik calls for a Plastic Free Odisha. Do you support the movement? *Visit our website www.orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

August 29, 2018
Plastic Free Odisha

Ratikant Mohapatra,Odissi Dance Director

Ratikant Mohapatra support a plastic free odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your ...

August 30, 2018
Plastic Free Odisha

Deepak Kumar-Actor

Deepak Kumar support a Plastic Free Odisha. Do you support the movement? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

August 30, 2018
Plastic Free Odisha

Archita Sahu, Actress

Archita Sahu support a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your ...

August 30, 2018
Plastic Free Odisha

Cuttack College NCC students

Cuttack College NCC students support a plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) ...

October 2, 2018
Plastic Free Odisha

Sri Aurobindo School students & teachers

Sri Aurobindo School students & teachers of Sambalpur support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our ...

October 2, 2018
Plastic Free Odisha

Hockey Player Dilip Tirkey

Hockey Player Dilip Tirkey supports a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) ...

August 30, 2018
Plastic Free Odisha

Sundargarh Public School students

Sundargarh Public School students support a plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) ...

October 2, 2018
Covaxin
Christmas

Bharat Biotech rubbishes criticism, says its vaccine is safe    

New Delhi/Hyderabad: Hyderabad-based Bharat Biotech rejected Monday criticism over the grant of emergency use authorisation by India’s drug regulator to ...

January 5, 2021
Plastic Free Odisha

Srikumar Misra-Entrepreneur

Srikumar Misra supports a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your ...

August 30, 2018
Plastic Free Odisha

Sports Person Sradhanjali Samantaray

Sports Personality Sradhanjali Samantaray support a *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post your Photos/Selfie (with fingers ...

August 30, 2018
Plastic Free Odisha

Actress Bhoomika Dash

Actress Bhoomika Dash calls for a Plastic Free Odisha. Have You Joined the movement? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our ...

August 30, 2018
Plastic Free Odisha

Bargarh Ranapratap High School students

Bargarh Ranapratap High School students support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) ...

October 2, 2018
Plastic Free Odisha

Students of Tulasipur Saraswati Sishu Vidya Mandir, Cuttack

Students of Tulasipur Saraswati Sishu Vidya Mandir, Cuttack call for a Plastic Free Odisha. Do you support the movement? *Visit our ...

August 29, 2018
Plastic Free Odisha

Debashish Mohanty-Former Indian Cricketer

Cricketer Debashish Mohanty supports  a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post ...

August 30, 2018
Plastic Free Odisha

High school students of Sambalpur district

High school students of Sambalpur district support plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page ...

October 2, 2018
Plastic Free Odisha

Actor Sritam Das

Actor Sritam Das supports a plastic free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) *Post ...

October 2, 2018
Plastic Free Odisha

Padmashree Aruna Mohanty-Odissi Dancer

Padmashree Odissi Dancer Aruna Mohanty calls for a Plastic Free Odisha. Have You Joined the movement? *Visit our website orissapost.com. ...

August 30, 2018
Plastic Free Odisha

BJB Autonomous College-Bhubaneswar

BJB Autonomous college students support a Plastic Free Odisha. Do you? *Visit our website orissapost.com. Like,Share,Subscribe,Recommend our Facebook Page Orissapost(@OrissaPOST.Here.Now) ...

August 30, 2018

Archives

Editorial

Strategic Competition

(PC: plus500.com)
June 29, 2022

For more than three decades, the global economy was defined by unbridled integration and unprecedented interdependence. Neither political spats nor...

Read more

They Don’t Know

June 28, 2022

It does seem like no one in this country knows anything except those in absolute but temporary power. The bureaucracy...

Read more

War On Women

Anti-abortion demonstrators outside the United States Supreme Court (PC: Reuters)
June 27, 2022

The US Supreme Court’s overturning of the landmark court ruling Roe vs Wade nearly half a century ago giving the...

Read more

Executive Overreach

June 26, 2022

One of our Supreme Court judges made an important if startling point when giving a lecture abroad. A legal website...

Read more
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Opinion
  • Feature
  • Sports
  • Sci-Tech
  • About Us
  • Advertise
  • Contact Us
  • Career
Developed By Ratna Technology

© 2020 All rights Reserved by OrissaPOST

  • Home
  • Metro
  • State
  • National
  • International
  • IPL
  • Sports
  • Business
  • Entertainment
  • Feature
  • Opinion
  • Sci-Tech
  • COVID-19
  • Today’s Pic
  • About Us
  • Contact Us
  • Career
  • Facebook
  • Twitter

© 2020 All rights Reserved by OrissaPOST