How was india affected during the financial crisis?

India has a different culture than the West. They believe in savings. Though off late the western culture of spending more than you earn has crept in; the fundamental values of Indian society remains unshaken and intact.



The effects of the financial crisis has been influenced across the globe by every country. Does it cripple India? No it does not. People are still spending and living their life. Though there have been layoffs, paycuts, the situation is much better than the other parts of the world.



Infact Godrej/ UniLever announced potentail success in 2009 in India with the FMCG (Fast Moving Consumer Goods) division.



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Fai!How was india affected during the financial crisis?
India has many U.S. companies who have established call centers in India due to the lower labor costs. With the economy many are cutting costs as much as possible which will likely have an effect on the number of workers needed to man those call centers. Another area that is effected is in computer software. There are many software developers who are using Indian programmers to develop software, again for the lower labor costs. If software companies are not selling as much of their software then they don't need to continue paying people to develop more software.

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