LayoffBlog.com

January 29, 2009

Indian Exporters Cut 1 Million Jobs as Orders Decline

Filed under: India,worldwide — 7macaw @ 1:49 pm
Tags: ,

Indian exporters have shed as many as 1 million jobs, more than 15 times a December estimate, amid the most protracted decline in overseas sales in a decade, the commerce ministry said.

“The job losses are very substantial and are likely to be of the order of 700,000 to 1 million, including temporary staff,” Commerce Secretary G.K. Pillai told Bloomberg News in an interview in New Delhi yesterday. Exports fell 1 percent in December and any recovery “is likely only by June,” he said.

Source: Bloomberg

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