Industry Leaders Warn: Geopolitical Tensions Threaten Economy & Common Man

Speaking at the Indiaspora AI Summit here, Kris Gopalakrishnan, former CEO of Infosys, said the ongoing tensions are not just affecting the technology sector but are having a wider impact on everyday life.

"Shortages of LPG have already started affecting small businesses such as roadside food stalls and local restaurants, many of which are being forced to shift back to traditional cooking methods," he noted.

He warned that if the situation continues, rising oil prices could push inflation higher, affecting the broader economy.

Gopalakrishnan also highlighted concerns around India's large diaspora in the Middle East, saying any disruption there could impact remittances, which form a significant part of India's inflows.

"Travel routes through the region are also facing disruptions, adding to the challenges," he added.

At the same event, Sanjeev Joshipura, Executive Director of Indiaspora, said that geopolitics has become a major area of concern globally and is a key focus of discussions at the summit.

He added that the organisation aims to connect the global Indian diaspora with leaders in India to collaborate on long-term goals, including India's vision of becoming a developed nation by 2047.

Joshipura said the summit is also focusing heavily on artificial intelligence and its real-world applications across sectors, along with how global Indian communities can contribute to positive change.

Meanwhile, Indo-American economist Gita Gopinath pointed out that the global economy is at a sensitive stage due to the ongoing conflict and other challenges.

She said uncertainty around oil prices remains high and could impact global growth. According to her, if oil prices remain elevated, it could slow down economic growth worldwide, including in India.

- IANS