With global downturn taking its toll on India, about 15 lakh people employed in the exporting sector will be out of jobs by March this year, Commerce Secretary G K Pillai said today.
"We have figures from August till middle of January. We estimate something like between 7-10 lakh job losses till now," Pillai told a news channel in an interview.
He said if the slowdown, especially in the US, Europe and Japan continues, another five lakh people would be unemployed by March.
Earlier in the day, Pillai told reporters that the prospects for the country's outward trade look bleak for the next fiscal as well.
"It would be an achievement if we reach $160 billion-mark in 2009-2010," he said.
After an impressive expansion of over 30 per cent in the first six months of 2008-09, export growth has turned negative with the result that the total shipments in the current fiscal would fall much short of the $200 billion target.
Though exports account for less than 20 per cent of the country's GDP, the sector is highly employment oriented with the total estimated 6.5 crore workforce.
"Exports are going to come down and we have to live with it," Pillai said.
Agencies
Showing posts with label continues. Show all posts
Showing posts with label continues. Show all posts
Tuesday, February 3, 2009
Thursday, November 27, 2008
IBM India continues to hire despite recession
IBM's India BPO continues to hire and has not yet seen any impact of a slowdown.
That is the view of Sandip Patel, managing partner of IBM's global business services in India and South Asia, during a television interview at the Reuters India Investment Summit in Bangalore.
To check out the video interview...click on the link below:
http://in.reuters.com/news/video?videoId=94457&videoChannel=104
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