Monday, October 25, 2010

Flourishing Companies in India During Recession

Recession is official over now and everywhere reports are being generated regarding its impact on companies, and overall economy. Although every sector across the world has been affected by the global recession that lasted for 18 months. But in IKON Marketing Consultants reports it has been mentioned that there are few industries or sectors in India that have shown positive growth in spite of recession.

Across the world there was hullabaloo of economic recession and the down IT market. It has affected the IT job openings, growth and revenue of IT companies and its related sectors. But three cheers to the major Information Technology companies in India which have shown positive growth (although less that last year).

TCS, Infosys, Wipro, HCL and Cognizant have been listed in the recent Forrester Research report that shows that these IT companies in India are actually showing the signs of profitability despite of tough and receding economy.

In order to survive during tough time, the companies had changed their strategies. Major cost cutting had been done by reducing the salary, by spending less on long-term R&D and overheads expense. Some of the companies had also cut down their number of employees. This was the scene all across the world especially in North America and England but it was expected that Indian IT industry will grow in 2010 and 2011. Check out the top 10 IT companies in India.

After IT it is the food and food processing industry that has shown growth. According to Ministry of Food Processing Industry (MFPI), the food processing industry in India had witnessed a growth even as the world was facing recession.

Railway is another sector that has not been affected by the global recession in India. Air ticket rates were hiked and thus more and more people during that time had shifted towards the cheaper mode of transportation.

After this comes the Telecom department that has not been affected by the recession. Cell phone market became more prominent and cheaper than usual. Along with this PSU Banks, Education, Health care, market for Luxury Products, M&A & Marketing Consultants and Media and Entertainment have shown positive growth signs.


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