As recession hit US, IT industries and Export industries in India were the first to get affected. May be in other words, they were the ones that were directly affected. Then it moved on as a chain & started affecting related businesses.
For eg. if we take the travel industry, around 50% of their vehicles were sent back by the IT MNCs in the name of cost cutting. In addition to that, people in the working category responded by postponing or avoiding tours & travel ideas. Also there were reduced number of foreign visitors visiting India. This way the entire travel industry had a pitfall.
A similar wave is affecting the other industries too....
No comments:
Post a Comment