The Economic Downturn: Coping Strategies And The Way Forward
Indian industry started experiencing the real impact of the global financial meltdown from the last quarter of 2008. The rapidity with which the slowdown set in too many industry leaders by surprise. Demand plummeted, markets became unstable, and credit dried up. The future looked murky and unpredictable. CEOs - especially the younger ones - found that their past experience had very little to offer in terms of ideas on what to do. In this paper, the authors take a look at some of the coping strategies adopted by Indian industry leaders, and the challenges that they faced. They also outline what they can do to take advantage of the emerging opportunities when the economy begins to turn the corner.