global recession A good news has come about India amidst the worries of There is absolutely no possibility of recession in India. Not only this, the best is yet to come in the job market. That means there will be rain of new jobs in the coming time. The youth will get employment and the country’s GDP will grow faster. These things have been said by Ajit Isaac, founder and non-executive chairman of business services provider company Quess Corp. Isaac was speaking during an event in Bengaluru. He said the Indian economy is doing better amid fears of a worldwide recession. In such a situation, there is no danger of recession here. India is moving fast on the path of development.
Growth rate fell but good situation ahead
Isaac said that even though India’s growth rate has come down to less than 8 per cent now, it will not have an impact in the long run. India will develop rapidly in the future. He said that between 2000 and 2007, employment opportunities in India had increased rapidly. At the same time, the country’s GDP, which was $470 billion in the year 2000, increased to $1.4 trillion in the year 2007. We can get this kind of increase in job opportunities again.
There will be a crisis in the tech sector for 6 months
Isaac said that there is a jar of large-scale layoffs in companies in the technology and internet sector. This environment is expected to continue for the next two quarters. However, he also added that the world’s information technology sector employs 5 million people directly and 5 million indirectly. That’s why retrenchment is definitely happening in the IT industry but employment is also being given on a large scale. That’s why we should focus on the overall economic scenario instead of just IT. Ques Corp had acquired Monster Worldwide’s APAC and ME businesses in 2018 as a strategic investment aimed at strengthening its HR services portfolio. The company is operating in India, Singapore, Malaysia, Philippines, Hong Kong, Vietnam, Thailand, Indonesia, United Arab Emirates and Saudi Arabia.
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