How Will the Ukraine Crisis Impact India’s Economy?

This week, the Indian government revealed that India’s economy expanded by 5.4 percent in the third quarter of the current fiscal year, which was well below market expectations. The latest GDP print raises fresh questions about the health of the Indian economy at a time when global headwinds are starting to pick up. Russia’s invasion of Ukraine, the spike in oil and other commodity prices, and persistent inflation all pose serious risks to India’s macroeconomic outlook. This week on the podcast, Milan sits down with economist Sajjid Chinoy to discuss how India might weather these external shocks. Sajjid is chief India economist at JP Morgan and one of the most respected voices on the Indian macroeconomy. Milan and Sajjid discuss India’s policy trade-offs, the latest underwhelming GDP numbers, and India’s progress on asset sales. Plus, Milan asks Sajjid about the reforms needed to boost India’s long-term growth outlook.