Impact of Recession in India

There are 3 companies that did very well in US, while others went down, in spite of recession during 2008 melt down. Walmart, Dunkin, Best Buy. Whatever their strategy is, it is evident that they could sail through and still make good profits because of their focus, and anchoring to their values. Their technology and innovation has helped them.

Now that India is going through the similar phase, the companies should focus on certain things:

1. Consumerization:
   

2. Evolving an enterprise technology from consumer products to professional areas. Ex: Smart phone that is a consumer product can be innovated, specialized to Doctors, military etc.

3. Axis bank launched services for elderly, it is more than just opening accounts for them, but it is also paying bills for them, managing emergency services at hospitals.

The four sectors that majorly hit as of now :

1. Automobile: Cars being luxury products, they are hit first.

2. This has impact on loans, credit cards, thus Financial institutes.

3. Holiday sector

4. Consumer durables

Hope:

1. Rural India is still not much impacted by recession, as there are no conversations about job loss yet. Rural India mainly depends on monsoon and the impact of bad market condition is relatively low. A good monsoon means good purchasing power. As major part of GDP is still based on rural India, it is still not worst and we have time to cope up soon.

2. No recession holds more than 11 months as per the statistics of past 10 recessions in the world. Putting aside the logic behind, how is it, we have hope that it is getting over soon.

Related articles

1. The reverse brain drain: why NRIs are returning to India (profit.ndtv.com)

2. Equifax: Consumer credit levels rise in 2012 (creditrepair.com)

3. Consumers now in better financial position (creditrepair.com)

4. Inflation , Deflation and Other related terms (susiltripathy.wordpress.com)

5. India Morning Report: The “growth-inflation dynamic” is getting flustered by the rates (awardz.wordpress.com)

6. Mid-life economic recessions linked to later cognitive decline (medicalnewstoday.com)

7. How living through a recession can make your brain slower: Being made redundant in middle age causes memory loss (especially in men) (dailymail.co.uk)

8. India: Need For More Proactive Government Role To Revive Economy – Analysis (eurasiareview.com)

#Grossdomesticproduct #Consumerization #India #Asia #Financialservices #GDP #Recession #Creditcard