January 13, 2009

Indian Exporters May Cut 10 Million Jobs

Filed under: India — 7macaw @ 7:26 am

Indian exporters may fire as many as 10 million workers, a lobby group said, putting pressure on Prime Minister Manmohan Singh to cut taxes and protect the industry from the global recession.

The estimate by the Federation of Indian Export Organizations represent about 7 percent of those involved in overseas sales and about 20 times the Nov. 21 government estimate for job losses. The exporters don’t have orders beyond this month, A. Sakthivel, the lobby group’s president, told reporters today in New Delhi.

Source: Bloomberg

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