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Has India really suffered badly from Recession ?
By Aditya Gupta
Recession Slowdown Crisis ! Nightmare words...but from Indian aspect, global meltdown rarely affected the emerging new super economy. A bit confused.....here the facts : - Last year BSE Sensex & NSE Nifty both markets given 150% return. - India registered record FDIs & FIIs investments in the current financial year. - Whereas many banks in different countries failed or bankrupted, Indian banking system emerged with strong fundamentals and brighter investment plans. - In many countries, many major Auto companies failed so badly that they lost their whole identity while in India, Auto sector outperformed others last year. - India records second fastest GDP growth rate (around 7%) after China. Also it looks for achieving 9% next financial year. - Whereas many developed countries failed to find new sources of income, India successfully invested in projects like Chandrayaan I etc. - China & India share top two spots in terms of new emerging markets. - In these hard time India is well set to organize major sports events like Hockey World Cup 2010, Commonwealth Games 2010, ICC Cricket World Cup 2011 etc. - Two Indians Mukesh Ambani & Lakshmi Mittal shares 7th and 8th spots amongst top 10 richest man in the world. - India due to second most populated country, offers one of the largest populated market & strong domestic demand. - From last two years, Indian firms succeeded in giving around 8 to 10 percent annual raise to their employees. - Indian unemployment rate is less than that of other developed countries. These are some of the common facts that are recognized by the small and common man. Going into deep, one can find more amazing facts n figures about emerging Indian economy. |
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