Impact of Russia-Ukraine War on Oil and Gas Sector of Indian Economy

Russia and Ukraine conflict impose the significant consequences over the global economy. It’s not just a local issue; the fallout is hitting everywhere. These two countries play a big role in global trade, dealing with wheat, crude oil, and raw materials. When Russia made its move into Ukraine in February 2022, it caused a serious domino effect, crashing stock markets worldwide, including in India. My paper is diving deep into how this chaos is shaking things up in the Indian stock market, and I’m using the Nifty 50 index to guide me. Considering ASEAN economies and India are big on importing petroleum, this conflict is hitting them hard, messing with trade terms and causing a shock that’s affecting consumers, businesses, and GDP growth. With oil prices skyrocketing due to the war, everyday things are getting pricier, messing with people’s budgets and possibly slowing down economic growth in India. This study concentrates on evaluating how the Russia-Ukraine war has influenced Oil and Gas sector within the Indian economy.