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As 2023 begins, the world is still dealing
with the 3 Cs (covid, conflict and climate) a set of risks
that feel both wholly new and eerily familiar. These concerns feel both
entirely new and uncannily familiar. With the threat of these “older”
risks—inflation, cost-of-living crises, trade wars, capital outflows from
emerging markets, widespread social unrest, geopolitical conflict, and the
spectre of nuclear war and constant climate changes.
The war
between Russia and Ukraine has already lasted a full year. Since then, both
sides have been actively waging a full-fledged war against one another a number
of infrastructures have been destroyed, the war is still raging. But the
ongoing Russia-Ukraine conflict has sent numerous shocks to the global economy,
including that of India.
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