Indian automobile market is also shrinking in this period of global economic crisis. But it is in a relatively better position.Where US market is plunged by 40% in a year to year basis Indian market has fallen by 10 to 15 percent only.
Indian economy is not in a dud. No job loss till date. No bailout plan for banks or financial institutes. Yet, no bank is failed. If you are talking of share market, yes. But Indian stock market sky rocketted and this is a correction.
Just look at the figures:
1. BSE Sensex: 2,594.87 for the year 2001 on september 21.
2. Dow Jones:8,235.81 on the same date.
Dow is trading near the same now but BSE has recorded above 9300 today that means it is more than tripled in though plunged a lot. Where America, Japan and most of the Eu countries are in recession or going towards that India is maintaining a growth rate of more than 7.5 % so far. It was 9% for the last 4 years.