Home | Recommend Us | Contact us | Make NK your default homepage
TOP NEWS
BREAKING NEWS
HOME | ASTROLOGY | CHINESE ASTROLOGY | NUMEROLOGY | RECIPES | SELF HELP | PHOTO GALLERY | YOGA | TRAVEL | EDUCATION | PINCODES | BABY NAMES
NEWS CHANNELS
  • Kerala News
  • India News
  • World News
  • Business India
  • Sports News
  • Cricket News
  • Travel News
  • Health News
  • Technology
  • Literature News
  • Education News
  • NRI News
  • Spec. Features
Entertainment News
  • Bollywood News
  • Hollywood News
  • Malayalam Film
  • Tamil Film
  • Kannada Film
  • Telugu Film
Regional News
  • Andhra Pradesh
  • Gujarat News
  • Karnataka News
  • Maharashtra
  • Orissa News
  • Punjab News
  • Rajasthan News
  • Tamil Nadu
  • West Bengal
  • More India News
Best Of NewKerala

  • Festivals of India
  • Self Help
  • India Travel Maps
  • Temples of India
  • Kerala Info
  • Indian Dance Forms
  • Music of India
  • Bollywood Photos
  • Make Up Lessons
  • Weight Loss Tips
  • Top Destinations
  • World Travelogues

Home > News > business-india-news

'All is not well in Indian industry'

New Delhi, Oct 23 : The Indian industry is not totally insulated from the global financial crisis, which will have serious implications on the national economy, say industry leaders.

'Things are tough in the industry as a consequence of US recession, which has now slowly started impacting the Indian economy as well,' MakeMyTrip founder and chief executive Deep Kalra said here Thursday.

He was speaking at the TiEcon Delhi-2008, an annual conference of industry leaders, organised by non-profit global network The Indus Entrepreneurs.

Maruti's former managing director Jagdish Khattar said every sector, including automobile, has been hit badly by rising input costs.

He, however, added that the economic downturn has its positive effects also, as it threw up 'a plethora of opportunities to prepare ourselves'.

Most of the industry leaders present at the conference said the profit margins of Indian companies were getting affected due to the global financial woes, but the firms still retain double digit growth.

'The food prices have gone up phenomenally, but we rationalised our business to insulate our company (from the crisis) by exiting business which are not profitable,' Yo! China managing director Ashish Kapur said.

According to Delhi University economist Ram Khanna, only those companies, which are dealing with the world market, are affected by the recession.

'The impact is mainly on those companies which are either internationally exposed for raw materials (steel, oil) or whose revenue is in dollars,' Khanna told IANS.

'It is still not confirmed whether the US was going through recession or not, and this can be done only when the third quarter results are out which will display if the earnings are still in negative,' he added.

Moreover, with the government paying arrears to its employees, the purchasing power has increased in the domestic market. This should fuel demand and give an impetus to growth.

Khanna expressed confidence that the market conditions will improve by December or maximum by the general elections next year.

--IANS

Post your comment

Read other business-india-news stories

Visit Home Page for fresh content


Rating: This article has not been rated yet.

Rate:
 


 

Latest News Headlines:

Three-year-old run over by water tanker
Fighting terrorism a key focus of Manmohan-Obama summit
Nokia to bid for Nortel assets
Chandigarh to compile data of absentees due to swine flu
Frustration creeps in, yet faith in Dalai Lama keeps Tibetans going
Folk healers want 'healing touch' of acceptance to continue
Buy Afghani almonds, pomegranates at trade fair
Four Mujib killers to seek president's pardon
India's all-female UN police unit inspires Liberians
'UN knows what Copenhagen failure can entail'
Sabarimala sells 1.2 lakh cans of prasadam daily
Pakistan claims India supports insurgents
Trial of Bangladesh border guard mutineers to begin Tuesday
Dolphin killed by poachers in Patna
Karnataka, its crisis, controversies and elections (Letter from Bangalore)
Three MoUs to foster innovation, research and training
India to promote tourism in Ladakh, Kargil
Iran's Revolutionary Guards to hold military manoeuvres
Argentine singer recovering after heart, lung transplant
I can proudly tell my kids Big B was my first child: Vidya Balan
Tibetan exiles to attend meet on environment
Sikh groups write to Obama, seek justice for 1984 victims
Twin blasts rocks Assam, five killed, 50 injured
Don't execute Mujib killers, Amnesty tells Dhaka
Raj Kundra shows off dancing skills at sangeet
Himachal-born child detected with polio in Uttar Pradesh
'Idiots' means 'I do it on my terms': Hirani
Mexico's economy contracts 6.2 percent in third quarter
A temple which welcomes only women
Bihar's junior doctors resume work
'The Twilight Saga: New Moon' earns USD 72.7 mn, breaks opening day record
Six fold hike in Indian businessmen settling in New Zealand
Three explosions in Assam, five killed, 50 injured
Pak involved in 26/11: CIA
China supports Indo-Pak talks
We know that we are loved: Travolta tells neighbours
My hips were not touched: Demi Moore
Amy Winehouse's puffing after the gym
Canada saved the India-US n-deal; it now needs to think beyond
Diners eat out of toilet bowls at novelty restaurant chain

  Home | Recommend Us | Contact us | Make NK your default homepage
  © 2001-2008 NEWKERALA.COM. All Rights Reserved.