US sneezes, India catches a cold

…………India has started feeling the pinch at the earliest signs of a recession in the US economy. Look at some of the recent headlines. “IT firms put off campus recruitments “, `Techies get pink slips’, `Indian students in US left in the lurch’, `US firms put a freeze on recruitments’. Well, the emerging scenario is spreading panic among those employed and aspiring for jobs in the IT/ITES sectors.………..The students who were offered campus placements last year are made to cool their heels. Indian students pursuing higher students in the US are in an equally sad predicament. After doing their MS and PhD, most students are unable to find a job in the US and are forced to return to India……..The risk of a full scale recession in the US is rising and India cannot remain immune to its impact. Indian economy went through a rough patch in 2000 when US saw one of its biggest recessions, leading to the infamous dot.com bust in India. [View Full Article]