Fairval

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Slowdown – More anecdotes

Posted by fairval on October 23, 2008

HT yesterday had a nice story on slowdown in travel sector. Even biggies like Rak Travels and Kesari are talking of a serious slowdown. Both these companies are talking of 30-40% drop in demand. This is not merely a slowdown, it is a contraction!

Smaller operators are talking of laying off staff, some 1-2 operators quoted in the story were talking of shutting shop. So — will the services sector in India still grow 9% plus, as some GDP forecasts are assuming. I very much doubt it

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One Response to “Slowdown – More anecdotes”

  1. Jai said

    There has been a lot of talk recently about Unitech and DLF going bankrupt.Is that a possibility? Would that create a ripple effect if it were to happen?To what extent can the real estate sector correct?Jai

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