If there is a recession in America, then not just IT, jobs in these sectors will be affected first in India

Fears of a possible economic recession in the US are increasing. Due to this, clouds of crisis have started looming over the global economy as well. Looking at various economic signals and market factors, it appears that the US may be on the verge of recession.

Many major economic indicators in the US have started showing signs of weakness. Unemployment claims have increased significantly from the January low. Apart from this, the ISM manufacturing PMI has fallen to a nine-month low.

Saham Rule has also indicated the beginning of economic recession in America. Many other indicators are also saying the same thing. 

In such a situation, if there is an economic recession in America, which sectors of India will be affected the most? Let us know which sectors' jobs will be affected the most…

There will be a crisis on jobs

The US economic slowdown has taken a heavy toll on the tech sector across the world in the last one and a half years. 

According to reports, 1 lakh 30 thousand people have lost their jobs worldwide this year. Big companies like Cisco, Intel, Microsoft have given pink slips to employees. The worrying thing is that this series of layoffs does not seem to stop in the coming days.

Not just IT, these sectors can also be affected

With the threat of recession in America, jobs in many sectors other than IT can be lost in India as well. If the situation in America does not improve and the American economy goes into recession, then India will also be affected, in which the demand for Indian exports may decrease due to the decrease in demand in America. 

The IT, pharma and textile sectors are highly dependent on the American market. Apart from this, the global supply chain gets disrupted during economic recession, which can make the situation more challenging for Indian exporters.

Along with this, the recession in America will reduce investor confidence worldwide, which may reduce FDI in India. However, in such a situation, the price of crude oil may fall, which will be beneficial for India. In such a situation, its domestic demand, large export basket and strong financial position can prevent India from going into recession. 

Apart from this, currency fluctuations, especially the possible fall in the value of the US dollar, can negatively affect the Indian currency. If this happens, imports may become expensive and businesses dependent on goods coming from abroad will also be affected.

What will be the impact on the IT sector

The Indian IT sector is particularly vulnerable to a US recession. Facing economic pressures, US companies may cut IT spending, which could lead to a decline in revenues for Indian IT firms. This could lead to job losses and project cuts, which could significantly impact the growth of the sector.