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We organised a group discussion on this theme. The group discussion is presented here
for the benefit of all those who are interested in similar issues :
R: I agree to some extent. Recession is spread all over the world. India has not been much
affected by recession. Due to huge population base, India is having a large consumer base
and therefore India is able to sustain. Today India is growing in spite of the global trends.
After every growth, there is a downfall. Countries like USA are facing downfall. India
has not yet reached its peak and therefore there are a lot of opportunities for people.
Sectors like telecom are growing. Securities market is facing some problems, but if we
have a short term perspective, it is bearish. But, if we have a long term perspective, this
market is also bullish. India is able to attract FIIs, FDI. India still has a GDP growth rate
of 7%, which is much higher than the GDP growth rate of 1% in the USA and other
countries. Our inflation rate has also come down close to 4%, thus it is a very attractive
market.
H: Indian banks are also growing very fast. Indian banks have opened a large number of
branches. Global banks are also entering. RBI is trying to use monetary policy for the
development of the country. Now 50 to 60 thousands of money is available in the market
through the measures of RBI.
R2: Gold prices are growing. Silver and other such precious metals are growing. During
recession, our growth rate is above 7%. In terms of growth rate, we are number two in the
world. Indian stock market has fallen continuously for the last 1 year.
H: if we talk about other markets, we can find that our engineering goods sector is
growing at a comfortable rate. Our educational institutions are able to have prestige for
their quality curriculum.
R2: there is a large impact of recession on airlines, and over 70000 people have been
retrenched.
R: In other countries, millions of people have lost their jobs. If we look at the world
economy, the last quarter was the worst quarter. India still had a comfortable growth.
While most companies are cutting their business in other countries, Indian companies are
expanding; it is a period of growth.
R2: Due to impact of recession, there is cut in the global expenditures. Crude oil has also
fallen now from 140 barrel per dollar to 40 dollars per barrel.
R: RBI is cutting the interest rates and taking other measures for the development of our
economy.
H: there are sectors like insurance sector, which are growing. There are many companies
that have entered in Indian market – they are experiencing a steady growth.
R: Warren Buffet said that when everybody is fighting, be greedy, now markets have
fallen below expectations and this is the golden time to enter in this market. If you have
2-3 year perspective.