Indian Economy: Reality Bites 2

Wednesday, November 19, 2008

In my post Global Financial Crisis:  Effect on India,  I made dire forecasts which are now appearing on the front pages of our newspapers...for example:

4. Every business house has created either an infrastructure subsidiary or a telecom subsidiary. If the money is already committed, it was done at the peak, and will be lost.
Today's Financial Times has the following report: Consolidation of India’s mobile industry seen
1. Business built on the out-sourcing phenomenon will suffer...a darwinian struggle will ensue and stronger, bigger and more efficient firms will emerge....job losses will be legion.
Today's Financial Times has the following: India’s IT executives fear worst slowdown
3. Real Estate firms will also enter a Darwinian struggle...those levered for high growth will die...those focussed on customers will thrive...consolidation will occur. 
Today Financial Times has the following story: K.P. Singh, chairman of DLF, India’s biggest property group, said some local property companies would fail if market conditions continued to deteriorate.

 And one that I did not forecast:  but you need items to put a smile on your face:
India needs millions of toilets to meet development goal

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