Global Economic Slowdown and India
I have been asked this question by quite a few people "How is the situation in India and has the global economic slowdown effected our country?". It will be foolish to state that there has been no effect of the global economic slowdown on our country. Yes, it has effected us but has it effected us so greatly like it has in Russia, Singapore, Hong Kong, to an extent China and so on. The answer is clearly no. And given below are my reasons as to why I think it has not effected us as much as it has effected them. We are not really opened up our economy as much as those countries have. We have been slow to do it and have done it in small baby steps that has made sure that very good regulatory mechanisms have been put in place. So although this has not resulted in great economic progress at the same time it has also not resulted in great economic decline. As they say faster the rise faster the fall - in our case since it was slower to rise so it is slower to fall. The Indian mar