A delicate balancing act

India must balance economic benefits with ethical considerations to become a responsible global player.

The ongoing conflict in Ukraine has sent shockwaves through global energy markets, impacting everything from international relations to commodity prices. While the war has led to immense suffering and a humanitarian crisis, it has also created unexpected economic opportunities for countries like India. The remarkable surge in India’s fuel exports to the European Union (EU) exemplifies how geopolitical tensions can yield economic gains for nations that skilfully navigate the shifting landscape. In the first three quarters of 2024, India’s exports of fuels such as diesel to the EU soared by an impressive 58 percent compared to the same period the previous year.