India may not be able to completely avoid impact of global recession

Lower global commodity prices to help the economic growth

India may not be able to completely avoid the impact of global recession, which economist Nouriel Roubini said will hit by the end of the current calendar year and last the entire 2023. However, lower commodity prices would help the economy offset the recessionary headwinds to an extent. 

Total external trade of goods and services still constituted almost half of the country's gross domestic product (GDP) in the first quarter of the current financial year. This is slightly lower than the global financial crisis period of 2008-09 and the Eurozone crisis years of 2011-12 and 2012-13. 

However, if one looks