Global Crisis

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Global crisis occurs due to financial crisis and economic crisis. These are nothing but risk that could threaten humankind as a whole or even cause the end of planet Earth. A financial crisis is a situation where money demand quickly rises relative to money supply. A stock market crash is an example for this. Whereas economic crisis refers to the economic down of countries all over the world. They are going down in -ve zone. Global economy has become a hot topic for international forums. It believed that the value of IT off shore consists of better process management of operational skillfulness. So, they should put effort in developing technology platforms to make business more efficient. The Major concern in India…show more content…
Technology upgradation, investment in R&D, foreign collaborations, quality standards, and | | | |focus on employee skill development and quality norms have emerged as the significant strategies to enhance | | | |global competitiveness. | In the face of intensified global competition and liberalised trade, productivity has emerged as a key indicator of successful restructuring and upgrading by firms and industries. Traditionally, productivity growth has been regarded as one of the main sources of income growth, along with the factors such as capital accumulation and the deepening of human capital development. Over the past two decades, liberalisation has become an important part of many countries' development strategies. The present study analyses the review of earlier studies on productivity IT sector & outsourcing: Limited impact • Nasscom: The global financial meltdown following the collapse of US investment banks will have limited impact on the Indian IT sector in the short and medium terms, but poses a challenge in the long term. • Growth will happen but at 22-23 percent it will be lower than in the last two-three years when the booming IT industry posted a CGPA (cumulative growth per annum) of 31

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