Indiran Chandiran
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- Dec 13, 2015
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#India’s falling #exports killed 70,000 #jobs in just one quarter. #Modi #AchheDin http://qz.com/784625 via @qzindia
India’s dismal export growth is leading to massive job losses. And, after months of shrinking exports without any signs of improvement, the employment situation in Asia’s third-largest economy is set to worsen.
The jobs market is already in pain. In the July-September quarter of the 2015 fiscal year, India recorded the lowest job growth compared to the same period in 2009, 2011, and 2013.
Plummeting exports are adding to the problem. Some 70,000 jobs were lost in the second quarter of 2015 alone due to a fall in India’s exports, according to the Associated Chambers of Commerce & Industry in India (Assocham). Most of these were contractual in nature, the joint study by Assocham and Thought Arbitrage, a research institute, said.
“While contractual jobs were lost, not adequate regular jobs were added to compensate that loss. Textile has been most affected,” the industry body, which represents over 450,000 Indian business entities, said in a release on Sept. 18.
India’s export growth has been negative in the last couple of years. Lacklustre global demand is one reason. It also doesn’t help that India’s manufacturing sector is still weak. Private investment in manufacturing is yet to pick up, which means exporters are scrambling for funds. Their funding costs are high too. All this has had an impact on the jobs market because exports have been slacking in sectors that are labour-intensive, such as engineering goods, leather, textiles, and rubber, among others.
Eight of the 14 labour-intensive sectors saw exports shrink in the 2016 financial year. In the previous year, job growth in these sectors was the slowest in seven years.
This man is a true Pakistani.Attention Indian posters - He deserves out respect.He's been at it for 20 years or more , depending on how much data you happen to mine on the net or outside of it.Can you imagine that ? 20+ years of digging up dirt on anything he can find on India .That requires serious dedication , even by Pakistani standards.
The next time , we read a liberal in India as we always do & happen to tip our hat in their direction in appreciation of their argument like this article whose link I'm sending now , please remember that homilies & all those heart warming stories of the royal treatment that so & so received upon landing up in Lahore , Karachi , Islamabad , etc this is how an ordinary Pakistani is wired .
You may argue that he's one of a kind .I counter that's how they all are.Thread after thread you'd see only scorn being heaped on India's achievement & very few on their own country's achievement .The ratio must be 10:1 in favour of disparaging threads about India vs Pakistan's achievement in like or other fields .( notice I'm not referring to our achievements but Pakistan's )
Off late , the only positive achievement which they refer to in glowing terms is the CPEC ( to be constructed on borrowed money - the terms of which are still not made public nor the master plan itself )
Here's the link by our very own bleeding heart liberal .Juxtapose it against what I've written &feel free to arrive at your own conclusions .I already have.
http://scroll.in/article/816879/the...must-recognise-that-restraint-is-not-weakness