The billion dollar question that arises in one’s mind is that of how India survived Recession. While the rest of the countries like Germany and France recovered well in Recession, India was never into recession at all.  Is it due to the domestic demands and less foreign supply or strict Banking rules or the mindset of the people?

The truth is that all developed nations didn’t have any problems with the basic necessities of life like Shelter, Clothing and Food before the Recession whereas in India it was always a problem with scarcity of resources irrespective of the nation booming or glooming.  An average Indian had the usual sufferings and the recession would just impact them a little and not more.

But, we also need to check on the brighter side which helped us avoid Recession.  The banking system in India is so good that we don’t face any problems with Mortgage issues vis-a-vis USA.  Everybody knows that “When the Wall Street sneezes, the rest of the world catches a cold” does impact India if it blindly follows the U.S.  Thanks to the IT  and other sectors who have started exploring the European countries and are less dependent to U.S. The upcoming government projects in India have really helped to generate more employment at the time of global recession.

India is still better positioned in comparison to developed US, EU and Asian economies due to its comparatively less dependence on exports and strong domestic demand.  We can’t argue whether India has fallen into Recession or not, but can agree that the global recession did make little impact to India.