Wednesday, June 17, 2009

Less Foreign Investment and More Worry for Indian Job Seekers

I found an interesting and detailed report in New York Times about the Indian economy. In 2006, 2007 and 2008, I remember blogging a lot about the growing Indian economy, increasing foreign direct investment and more opportunities for the educated people in the country. However, due to the global economic recession, the economy is suffering and foreign investment has been decreasing from the last part of 2008 and this damaging trend is counting even in 2009. First, I would like you to read the report of New York Times by following the link: India, Suddenly Starved for Investment

The last few years were like a fairy tale for many educated people in India: just get a degree in Business or IT subject from a university and the jobs will run after you. This was the common scenario for many people in the country as many leading companies in the world were in an expansion mood both in terms of outsourcing their jobs or increasing their presence in the local market.

The stock exchange also witnessed healthy growth and a lot of foreign funds were in the stock exchange. That too has changed in the last 6 months. Don’t think that only the educated middle class people are suffering. Poor workers are suffering too because diminishing foreign investment has caused cancellation of many on going or soon to be started projects in the real estate sector.

(This entry was originally uploaded on May 2009.)

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