In the second episode of In Dialogue, Jaimini Bhagwati, Distinguished Fellow, CSEP, and former Indian Foreign Service officer, talks to Constantino Xavier, Fellow, CSEP about the impact of the Russia-Ukraine crises on India’s economic interests in the short and medium term, from rising oil prices and inflation to bypassing sanctions on Russia.

The conversation assesses how the war may affect India’s position in various financial systems, including a possible currency exchange arrangement with Russia, as well as long term possibilities for India to ensure resilient supply chains for trade and a more self-reliant defence industry in cooperation with other strategic partners. Based on Amb. Jaimini Bhagwati’s experience as ambassador to Brussels and London, the dialogue also sheds light on how Europe’s activist response to the crisis and EU-India relations, including the planned free trade deal, may get affected.