India in denial of Recession- True or False?
Recession has impacted US, UK, Japan and yesterday report on BBC declared recession in China, Still India was not mentioned in the list.
So is it that recession is not having a big impact on India or India is denying the fact?
Recent survey report from IMF : January 21, 2009 --IMF Survey: World Faces Deepening Crisis, IMF Chief Warns
The world faces a deepening economic crisis, with the slowdown in advanced economies now spreading to major emerging markets such as China, India, and Brazil, warns IMF Managing Director Dominique Strauss-Kahn.
According to IMF , recession is now hurting Indian economy. After Satyam episode, can this be denied, won't Satyam fall have slowed down India's growth or may be show a decline in growth?
Well answer to all queries, is still NO!
Yesterday is a talk show, Gurucharan Das, mentioned , Indian Government stand on Satyam is commendable and due to the steps taken, SATYAM will stand back. This information can make a lot of people dubious as is it the reality. Yes it is!
Azim Premji (Wipro) commented on recession in India and shared the reason why its not hurting India as bad as
it is effecting China. 25% of Indian business depends on export and that is definitely effected but then 25% is not a big figure when compared to the rest 75%.
Azim Premji comments were backed by Gurucharan Das about a tremendous loss in outsourcing business but he was very confident about Satyam and steps being incorporated by Indian Government.
I got an opportunity to talk to Director of a Textile industry and he happen to mention about the new extension coming to there Industry and how the related department is busy in hiring people from all over India. From past two months the department is busy conducting written test and personal interviews for eligible candidates.
There is a little salary cut, promotions are delayed ,recruitment may have decreased but still in progress.
It seems when talking to authorities, IMF didn't not burst India's recession denial balloon but India has definitely busted IMF balloon of declaring India stepped in recession zone.
In the time of recession, India, Indian economy, Indian companies are still in a safe zone.
Reference:
http://www.imf.org/external/country/IND/index.htm
http://en.wikipedia.org/wiki/Gurucharan_Das
http://en.wikipedia.org/wiki/Azim_Premji
So is it that recession is not having a big impact on India or India is denying the fact?
Recent survey report from IMF : January 21, 2009 --IMF Survey: World Faces Deepening Crisis, IMF Chief Warns
The world faces a deepening economic crisis, with the slowdown in advanced economies now spreading to major emerging markets such as China, India, and Brazil, warns IMF Managing Director Dominique Strauss-Kahn.
According to IMF , recession is now hurting Indian economy. After Satyam episode, can this be denied, won't Satyam fall have slowed down India's growth or may be show a decline in growth?
Well answer to all queries, is still NO!
Yesterday is a talk show, Gurucharan Das, mentioned , Indian Government stand on Satyam is commendable and due to the steps taken, SATYAM will stand back. This information can make a lot of people dubious as is it the reality. Yes it is!
Azim Premji (Wipro) commented on recession in India and shared the reason why its not hurting India as bad as
Azim Premji comments were backed by Gurucharan Das about a tremendous loss in outsourcing business but he was very confident about Satyam and steps being incorporated by Indian Government.
I got an opportunity to talk to Director of a Textile industry and he happen to mention about the new extension coming to there Industry and how the related department is busy in hiring people from all over India. From past two months the department is busy conducting written test and personal interviews for eligible candidates.
There is a little salary cut, promotions are delayed ,recruitment may have decreased but still in progress.
It seems when talking to authorities, IMF didn't not burst India's recession denial balloon but India has definitely busted IMF balloon of declaring India stepped in recession zone.
In the time of recession, India, Indian economy, Indian companies are still in a safe zone.
Reference:
http://www.imf.org/external/country/IND/index.htm
http://en.wikipedia.org/wiki/Gurucharan_Das
http://en.wikipedia.org/wiki/Azim_Premji
Tags & Keywords : recession, job cut, India, outsourcing
Share this article:
Comments
|
||
|
||
|
||