Know-How of Global Recession and Suggestions to overcome in the Context to Indian Industries & Economy

"The world is likely headed for a deep recession" says Paul Krugman 2008 Nobel Prize Laureate for Economics. Textbooks define recession as a period of two consecutive quarters of negative economic growth as measured by a country's GDP and is expected to last anywhere between six and 18 months. Are we facing a recession or not? Yes, for the simple reason that not only our neighbors but our friends are unemployed. There is less of business talk and more billing worries. There is a saying, 'when it's tough the tough get going'.

Is India vulnerable to a recession too? As of now, evidence points only to a slowdown in growth and not to recession. Though India is not an export-reliant economy, the impact of inflation and global recession is being felt here too. By identifying the need and feeling pinched with its impact, present paper tries to focus on know-how of recession and provides certain remedial measures and suggestions to overcome in context to Indian Industries to make national economy more focused, reliable and sustainable.