MUMBAI: In the aftermath of the Russian invasion of Ukraine, Union Finance Minister Nirmala Sitharaman on Friday said that never has the globe peace faced challenges of this significance since World War-II, and India's development is "challenged" by the recent events.
She said human welfare needs a conducive environment without any disruptions or disturbances to make the post-pandemic economic recovery sustainable.
"India's development is going to be challenged by the newer challenges emanating in the world. Peace is being threatened and after the Second World War, (a) war of this significance, this impact, on the globe probably is not felt," Sitharaman said.
She was speaking at the annual Asia Economic Dialogue organised by the Ministry of External Affairs and think-tank Pune International Centre.
"Hopefully, some kind of restoration of peace at the earliest will happen, based on which, recoveries can be sustainable," she added.
Fearing that the economic recovery not just in India but across the world will be "severely hampered", Sitharaman said the welfare of humanity requires the recovery to be sustainable without facing any disruptions.
The comments come a day after Russian President Vladimir Putin announced a military offensive against its neighbour Ukraine by attacking the eastern European country from multiple sides.