Guys I dont understand one thing...how does it make a difference to India???? Except for the IT companies and the IT guys in US....does it matter in any other ways to the Indian economy???
RE:What for us????
by ice berg on Feb 01, 2008 05:45 PM Permalink
its foolish to think that only IT will be affected unless ur head is in ur pants..ever heard abt the ripple affect? anyways who says only IT will be affected?
RE:What for us????
by Abhiroop Banerjee on Feb 01, 2008 06:05 PM Permalink
I'm involved in an export business. We have nothing to do with IT. Already there are signs of harder times to come, due to the weakening dollar. Also, IT (& ITeS) workers represent a significant portion of our middle class, the people who actually go out and buy stuff. If IT is affected, the spending power of these guys will be curbed, and who will be hit? EVERY DAMN business catering to them, from underwear to Honda Cities.
RE:What for us????
by Danison Abraham on Feb 01, 2008 11:08 PM Permalink
I think you are absolutely wrong. A lot of earning of India and China is purely from US. A good portion of the jobs in the US are outsourced to India (IT) and China (manufacturing). If the companies in the US takes back all outsourcing jobs then India and China will be in big problem. The Govt has its kitty overflowing but what about common man???
RE:What for us????
by rajinder sharma on Feb 01, 2008 05:10 PM Permalink
whatever the effect is . it has made people think that the same can happen with the housing market in india.especially in mumbai.where people were quotating prices which were never affordable.now people have realised that there are no buyers left. and NOW............ they have reduced the prices they quote........
cud it be a downslide in property........ another crash as it most of the time happens with stock market crash
RE:What for us????
by rajinder sharma on Feb 01, 2008 10:24 PM Permalink
REAL ESTATE CRASH!!!!!!!!!
lots and lots of people are gonna loose loads of money in property....becoz people who are gettin 50 lakh now......might not even get 42 lakh for it in some time. becoz they are expecting 55L for it.and if somebdy agrees to give 55L then they quote 60L. brokers say it's a sellers market and u wont get cheaper housing.... when you look around u will see so many flats empty... people owning 3-4 flats...which they have rented.
holding of so many flats and expecting to make a killing of money.....has artificially raise the price so much.
i have been seeing houses bandra to andheri in mumbai..
i have seen the same flats again and again in my 6 mnths search... nobdy is buying the flats...
it shows that rates have peaked and prices have to come down
RE:What for us????
by Fab Reens on Feb 01, 2008 05:08 PM Permalink
Read the related articles on US rate cut and falling dollar. Also read a bit globalization of economies. Most of all, DO NOT BELIEVE the theory of 'decoupling' of our markets. Nothing could be farther from the truth. Our culture of natural savings habit (thriftiness), strong domestic market, and ability to reinvent and innovate would help lessen the impact on us. That's what the experts say, and I believe.
