Finance, Forex and Investments

effect of the global crisis on India's economy?

can anyone tell me the effects of the global economic crisis on India's economy? a website would really help. :) thank you and 10 points are guaranteed to the best answer. :)

Public Comments

1. India provides alot of outsourcing services to foreign countries. The level of economic activity in this sector will obviously be affected by the well being of its clients.
2. Global price movements are transmitted to local markets, farmers in the developing world could benefit from the rising price of food. According to researchers from the Overseas Development Institute, this may depend on farmers’ capacity to respond to changing market conditions. Experience suggests that farmers lack the credit and inputs needed to respond in the short term. In the medium or long term, however, they could benefit, as seen in the Asian green revolution or in many African countries in the recent past. Food riots were reported in the Indian state of West Bengal in 2007 over shortages of food. India has banned the export of rice except for Basmati types of rice which attract a premium price. Actually the global economical crisis is just a sign of a deeper problem, which is the problem with our global humanity. We have reached a stage when the whole world is totally interconnected and interdependent. We live as a single organism. Despite this we still act egoistically trying to use the others for our own self benefit, like a cancer cell in the human body. So the cure is not economical or political. We have to learn, how to live in a single, integral system without destroying it. If we manage to do that, all the problems you touch on in your question will correct themselves automatically. Here is fantastic article analyzing the current economical crisis, looking at the root causes and solutions: I hope it will help with your question.