India derives opportunities from challenges of Ukraine crisis



NNA |
Update:
April 23, 2022 4:18 a.m. STI

Washington [US]Apr 23 (ANI): Finance Minister Nirmala Sitharaman said on Friday that India is “seizing” opportunities in difficult situations as the world continues to face rising fuel prices and a shortage of fuel. food grains in the midst of the Russian-Ukrainian war.
Addressing a press conference in Washington alongside India’s envoy to the United States, Taranjit Singh Sandhu, Sitharaman said India was trying to find a market for its exports and provide significant assistance to eradicate the hunger.
The finance minister said she expressed concern that countries like India, which have the potential to float their agricultural products, especially grains, have faced difficulties with the World Organization. trade (WTO).
“…I said that countries like India, which have the potential to float their agricultural products, especially grains, have faced difficulties with the WTO. And because of that, the whole of the plenary recognized that there is hunger and shortage of food grains everywhere. The world – countries like India which can get supplies quickly are facing difficulties with the WTO”, he said. she stated.
Responding to a question about the economic challenges posed by the Russian-Ukrainian war, she said: “Yes, in some ways the war has challenged us. The supply of sunflowers, which largely came from Ukraine, is not happening now. we are trying to find alternative sources.”
Regarding the impact of the war on India’s energy needs, Sitharaman said that the share of crude from Russia does not exceed 3-4%. “So in an energy basket that comes largely from the Middle East and somewhat from the United States, the part that comes from the Russian Federation is not to the point of antagonizing us.”
“Of course the war is driving up metals, agricultural commodities and also the disruption of supply chains, all that pain is also being borne by India as well. The opportunities we have identified and developed are the export of grain foods, including wheat,” she said.
Sitharaman also responded to a question posed by ANI on possible India-US cooperation on the energy front. “If there is any cooperation they want to expand (on energy), then they are welcome. But I haven’t had any discussions to speak of in the bilaterals on energy-related assistance” , said Sitharaman.
She made the remark in response to earlier remarks by US Deputy National Security Advisor Daleep Singh, who during his visit to India proposed greater India-US cooperation on the energy front.
Furthermore, Sitharaman said India’s achievements in terms of digitalization that have taken place in the recent past are recognized.
“Many of them even show up to learn more and share such an experience,” she added. (ANI)

Christi C. Elwood