Sharp employment increase in India!

The year 2009 saw loss of jobs all over US and Europe. India was not hit by the recession as hard as US but it also went through a phase of stagnation in term of employment opportunities. The new openings were very very rare throughout India in the first 3 quarters of 2009. But as the clouds of recession seem to be clearing ( or at least everyone feels that way..) Indian companies have again started hiring in bulk!

The retail industry, metals and manufacturing industry along with IT has seen a wave of new job openings in the past 2 months. The stabilizing of retail industry in US is aiding the textile industry in India to win some orders and thus is also making some significant hiring. In the previous quarter the textile sector witnessed maximum loss of jobs of about 1.52 lakh followed by IT which was around 0.38 lakh. 

It is expected that India will have about 5 lakh+ job openings in the first quarter of 2010 itself. And year 2010 will be opening new jobs and added perks to the people who are already in jobs. More jobs in the economy drives everything as more jobs means more work and more work means more profitability!

Great Reading - THE INDIAN ELECTIONS!

This is what The NewYork Times is speaking about Indian elections.... it's very well said...please read.

It is truly the greatest show on Earth, an ode to a diverse and democratic ethos, where 700 million + of humanity vote, providing theirsmall part in directing their ancient civilization into the future. Itis no less impressive when done in a neighborhood which includesde-stabilizing and violent Pakistan, China, and Burma.

Its challenges are immense, more so probably than anywhere else, particularly in development and fending off terrorism -- but consideringthese challenges and its neighbors, it is even more astounding that themost diverse nation on Earth, with hundreds of languages, all religionsand cultures, is not only surviving, but thriving.

The nation where Hinduism, Buddhism, Jainism, and Sikhism were born,which is the second largest Muslim nation on Earth; where Christianity has existed for 2000 years; where the oldest Jewish synagogues andJewish communities have resided since the Romans burnt their 2nd temple;where the Dalai Lama and the Tibetan government in exile reside; wherethe Zorostrians from Persia have thrived since being thrown out of theirancient homeland; where Armenians and Syrians and many others have tocome live; where the Paris-based OECD said was the largest economy onEarth for 1500 of the last 2000 years, including the 2nd largest, only200 years ago; where 3 Muslim Presidents have been elected, where a Sikhis Prime Minister and the head of the ruling party a Catholic Italian woman, where the President is also a woman, succeeding a Muslim President who as a rocket scientist is a hero in the nation; where abooming economy is lifting 40 million out of poverty each year and isexpected to have the majority of its population in the middle classalready, equal to the entire US population, by 2025; where its optimismand vibrancy is manifested in its movies, arts, economic growth, and voting, despite all the incredible challenges and hardships; where all the great powers are vying for influence, as it itself finds its place in the world.

Where all of this is happening, is India, and as greater than 1/10th ofhumanity gets ready to vote, it is an inspiration to all the World.

- V Mitchell, New York, NY

World Bank OKs $400 mln for small firms in India!

WASHINGTON (Reuters) - The World Bank on Thursday approved $400 million in funding to help small and medium-sized enterprises in India cope with the global credit crisis.

The loan will be made to the Small Industries Development Bank of India (SIDBI), which will make available financing to small and medium-sized companies that are finding it hard to get access to credit. It will also go toward refinancing banks and other institutions that lend to small and medium-sized enterprises, known as SMEs.

"This project is part of a larger program of support in response to the government of India request for funding in light of the financial crisis," said Roberto Zagha, World Bank country director for India.

"It is targeted particularly at SMEs, to help address the credit slowdown that has resulted from the financial crisis," he added.

Zagha said credit growth to SMEs has fallen over the last year, which has affected overall growth and development.