India heading towards aggressive stagflation, said Michael Every, global strategist at Rabobank, on Wednesday.

In an interview to CNBC-TV18, he said, “We are heading towards aggressive stagflation but I am alluding to the fact that if things do not change and I am not saying they cannot, but if they do not change on the dynamic we are on at the moment, we risk seeing starvation for up to a billion people.”

Also Read: Raghuram Rajan decodes impact of Ukraine-Russia war on global economy

Talking about Russia-Ukraine, he said, “We are not just seeing the US ban energy; we are seeing Europe plan to issue massive euro bonds to fund military defence and to de-couple from Russia economically, which is an enormous step.”

Catch all the live updates on Russia-Ukraine war here

For the entire interview, watch the accompanying video

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