India IT Growth Story- Recession Impact & Recovery Analysis

Abstract

The Global Economic Crisis occurred due to the global debt trap becoming wider and wider, forcing the developed economies and developing economies to shift their gear and bringing liquidity adjustment in to the market by Intervening with the correction measures taken from time to time.

All these changes were done and we saw the reflection in terms of recent policy changes. US becoming protective and bringing the anti outsourcing bill, which brought new challenges for Indian IT industry. Indian economy has take steps but they are not yet adequate for bringing any double digit growth in GDP, as we are planning to catch on with Chinese growth story.

The Indian economy is growing at a steady pace by crossing the challenges and correcting the future road map for various industries. The government has shifted gears and brought the focus on long term growth story rather than short term gains.

Both the state government and central government focus is on attracting FDI investors as reflected in the paper. The paper highlights certain trends and short term forecast as a brief analysis. Suggestions are reflected for facing off the future double dip recession emerging round the corner following the European Crisis.