Discuss that global recission or financial crisis is good for india ?

Both.



There are millions of dirt-poor Indians who need economic gains to lift them out of poverty.



Over the course of a generation, India will gravitate towards capitalism (away from Marxism). As America becomes a 2nd tier player, India's standing will improve.Discuss that global recission or financial crisis is good for india ?
Hi Sunil,



We live in a global economy. Therefore a global economic recession or crisis cannot be good for India, or for that matter, any other country. Sooner or later, we are going to feel the ill effects of this crisis. Mostly it will show up as job losses, sluggish job market, slowdown in the GDP growth rate, slowdown in exports ( a major forex earner for us) etc. There will also be a general bad effect on investor sentiment, which might affect the stock market, leading to wealth erosion for a lot of people.



Though it is early days to talk of a full blown depression, that will be a really bad news for everyone.



I guess what you meant was that can any good come out of this for India. In other words, is there an opportunity somewhere in this crisis. Well, there may be some hope on the outsourcing front. As western economies contend with rising cost of doing business, they may want to outsource to cheaper destinations (like India). But it will be difficult, since there are already extensive job losses in developed countries. There will be a general political pressure against outsourcing of jobs.



All in all, I see no reason how India could benefit from this crisis.Discuss that global recission or financial crisis is good for india ?
umm well its a start...india or indeed china are seen to be the next superpower, and since imports from india are cheap this will encourage more countries to buy from them, eventually though india will say,,hang on im in such a demand here i wont be so cheap anymore..so hey presto, india starts hiking up its prices