look news india
The fear of a possible economic recession in the global economy, America, is increasing. This has also cast a cloud of crisis on the global economy. Looking at various economic indicators and market fluctuations, it is clear that America is on the verge of recession. Many major economic indicators in America have started giving weak signals. Therefore, unemployment claims reached the lowest level in January.
jobs at risk
The economic slowdown in America in the last one and a half years must have had a huge impact on the technology sector across the world. According to information, this year 1 lakh 30 thousand people lost their jobs across the world. Big companies like Cisco, Intel, Microsoft have already handed out pink slips to employees. The worrying thing is that the process of layoffs is not likely to stop in the coming days.
There is a fear that not only IT but these sectors will also crash
Apart from IT, the possibility of recession in America can also affect jobs in many sectors in India. If the situation in America does not improve and the US economy goes into recession, it will also affect India. Due to the decrease in demand in America, the demand for Indian exports may decrease. IT, pharma and textile sectors are more dependent on the US market. Apart from this, there is a possibility of a decrease in the global supply chain due to economic recession. This can make the situation more challenging for Indian exporters.
What will be the impact on the IT sector?
The Indian IT sector is particularly vulnerable to a US recession. Faced with economic pressures, US companies may cut IT spending, which could lead to a drop in revenue for Indian IT companies. This could lead to job cuts and project cuts, which could significantly impact the growth of the sector.
