“India” better prepared to deal with food inflation.

 

Russia’s ongoing war in Ukraine has disrupted global food and energy production and supply because both countries are major producers of these commodities. Prices have risen worldwide as a result of the war. The country’s chief economic advisor, V. Anantha Nageswaran, told CNBC’s “Street Signs Asia” on Wednesday that India is in a better position to weather the global rise in food prices.  

“It is a difficult situation… for many countries, but India is relatively better placed because of the abundance of locally produced food grain,” he said, adding that the government has also provided subsidies for food and cooking gas to alleviate the burden.

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