• International affairs can have both positive and negative impacts on the Indian economy. For example, trade agreements and collaborations with other countries can result in increased exports and foreign investment, leading to economic growth. However, events like global economic downturns and trade wars can negatively affect India's growth prospects.
• The Indian government has implemented various measures to mitigate negative impacts on the economy. For instance, the government has taken steps to promote domestic production and reduce reliance on imports, such as the 'Make in India' campaign. Additionally, the government has implemented trade agreements with other countries to increase exports and reduce import tariffs to promote trade.
• The government has also focused on improving infrastructure and investing in sectors such as agriculture and manufacturing to boost the economy. Similarly, policies such as liberalization of foreign investment and increasing ease of doing business have encouraged foreign investment and led to economic growth.
• The government has also established policies and institutions to manage the effects of international affairs, such as the Reserve Bank of India and the Ministry of Finance. They monitor and make adjustments to the economy to stabilize it in cases of external shocks, such as a financial crisis or negative external events like a global recession.

In conclusion, various international affairs can have both positive and negative impacts on India's economy. However, the government has implemented various measures to mitigate negative impacts and promote economic growth.