Well, the economic crunch has put the whole world under pressure. Diplomats are running hither and thither to clean up the economic mess. Everywhere one can hear the words rate cut, liquidity, stock etc., But guess what, its getting worse. People are losing their jobs, livelihood and what not. The traders and stock brokers who have invested huge money in the markets have incurred huge losses and some are taking to suicide. One of the most powerful and prosperous country of this world, the USA is under a recession. Japan was the next to follow. People working in various sectors have lost their jobs in the name of lay-off's. In such a situation, what will people do for livelihood? Every year, scores and scores of graduates are passing out of college - what is their fate? I saw in a news channel some pathetic scenes faced by people due to recession. People have taken to begging on the streets with their families.
Coming to the scenario in India, our government is taking every step to motivate growth in all sectors. But the outsourcing part is a cause of concern. Most of our business is dependent on the US and they are dependent on us. Its Interdependency basically. I feel strongly that, this interdependency cannot be weakened due to lack of skilled labor in the IT, ITES industry. Even, Indians are feeling the pinch in their finances. I heard some people telling that they fear of lay-off's in their company and are well aware that economic crisis is taking a toll.
Only time can tell when all these problems get solved... Hope they get solved soon and we make way for a bigger growth and employment in all sectors - atleast amongst ourselves...
Coming to the scenario in India, our government is taking every step to motivate growth in all sectors. But the outsourcing part is a cause of concern. Most of our business is dependent on the US and they are dependent on us. Its Interdependency basically. I feel strongly that, this interdependency cannot be weakened due to lack of skilled labor in the IT, ITES industry. Even, Indians are feeling the pinch in their finances. I heard some people telling that they fear of lay-off's in their company and are well aware that economic crisis is taking a toll.
Only time can tell when all these problems get solved... Hope they get solved soon and we make way for a bigger growth and employment in all sectors - atleast amongst ourselves...
