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65,500 jobs lost in India in three months
By siliconindia
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Friday, 05 December 2008, 22:51 IST |
2 Comments
Bangalore: Retrenchment has become a never-ending scene with the government confirming that around 65, 507 jobs were slashed between August and October in 2008. The data is given presented as per findings from a survey of 21 companies in India by the government.
Infact, another survey conducted by the Noida based Apparel Export Promotion Council, a body sponsored by the textile ministry, has enlightened the fact that over 9,000 textile workers employed in export-oriented units were rendered jobless. As per an earlier prediction by Commerce Secretary G K Pillai 50, 000 workers are to lose their jobs by 2009.
The slowdown cauldron has also churned out losses in export orders worth 
1,792 crore (17.92 billion), as the demand from the U.S. and European markets declined. The first grave impact on the sector led its sales to a five year low to $12.8 billion from $14.6 billion, a 12 percent dip. Hence, the target of $200 billion in exports for the current fiscal seems unlikely to be completed.
1,792 crore (17.92 billion), as the demand from the U.S. and European markets declined. The first grave impact on the sector led its sales to a five year low to $12.8 billion from $14.6 billion, a 12 percent dip. Hence, the target of $200 billion in exports for the current fiscal seems unlikely to be completed.