The G-20 leaders’ recommendation to revive the Black Sea Grain Initiative (BSGI) to help the movement of grains, food, and fertilisers from Russia and Ukraine to the rest of the world, would help ease inflation in several countries, but may not affect India’s own inflation trajectory much, Finance Minister Nirmala Sitharaman said.
Speaking after the leaders adopted the New Delhi Declaration, External Affairs Minister S. Jaishankar noted that leaders recognised the significant implications for the global economy arising from the ongoing war in Ukraine, and the impact it has had especially on developing and least developing nations that are still recovering from the pandemic and economic disruption. “The three F’s — Food, Fuel, and Fertilisers — were issues of special concern,” he said.
