Russia-Ukraine crisis: India economy to be among worst hit in Asia - Nomura

A sustained rise in oil, food prices would have adverse impacts on Asia's economies. India, Thailand and the Philippines are the biggest losers, while Indonesia would be a relative gainer, Nomura said

The ongoing geopolitical crisis between Russia and Ukraine will impact Asian economies, but the impact will be polarized across the region, said analysts at Nomura in a recent report. The negative impact on Asia, they believe, is predominantly because most economies are net oil importers, and food and energy accounts for nearly half of the consumption expenditure in EM Asia. 

Although the ongoing geopolitical tensions between Russia-Ukraine can hurt Asia through multiple channels, such as tighter global financial conditions, elevated uncertainty and the risk of weaker