Storm Recession ! will India traverse it..?
The recent recession has had a domino effect across the globe. and while most do not expect to come out of this situation any time soon, India Inc. might be able to pull a houdini on them. Experts predict that by the end of the year 2009, India will be among the very few countries to emerge mostly unscathed.
The World is Flat, author and journalist, Thomas L. Friedman, wrote in his book by the same name. Here Friedman talks about the phenomena of ‘Globalisation 3.0’ and how the world is “flat” , in the sense that globalisation has levelled the competitive playing fields between industrial and emerging market countries. In a nutshell, he is talking about the economic markets where all competitors have an equal opportunity to sell their products in a free market, without any restrictions. This phrase, however, can be affixed to another phenomenon that is currently gripping the world: the on-going recession.
How, you may wonder? Well, the recession in the United States has caused a ripple effect in every country, with job cuts and cost cutting being the most glaring repercussions. Like most organisations, across the globe, India Inc., too, is following a similar path. However, every dark cloud has a silver lining. And for India, this dark cloud’s silver lining is a better financial and organisational future. Though this statement may sound exaggerated to many, experts across India Inc. say that this slower economic growth in India will end with a positive high, as India will be among the many countries that will ride the storm of recession.
The World is Flat, author and journalist, Thomas L. Friedman, wrote in his book by the same name. Here Friedman talks about the phenomena of ‘Globalisation 3.0’ and how the world is “flat” , in the sense that globalisation has levelled the competitive playing fields between industrial and emerging market countries. In a nutshell, he is talking about the economic markets where all competitors have an equal opportunity to sell their products in a free market, without any restrictions. This phrase, however, can be affixed to another phenomenon that is currently gripping the world: the on-going recession.
How, you may wonder? Well, the recession in the United States has caused a ripple effect in every country, with job cuts and cost cutting being the most glaring repercussions. Like most organisations, across the globe, India Inc., too, is following a similar path. However, every dark cloud has a silver lining. And for India, this dark cloud’s silver lining is a better financial and organisational future. Though this statement may sound exaggerated to many, experts across India Inc. say that this slower economic growth in India will end with a positive high, as India will be among the many countries that will ride the storm of recession.
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