Under fire from the government and rival industry lobbies like FICCI, Assocham (Associated Chamber of Commerce), an industry lobby, has withdrawn its controversial report that had predicted axing of jobs in seven people intensive sectors comprising IT, aviation, steel, financial services, real estate, cement, and construction.
While, Union Finance Minister P Chidambaram has allayed fears of job cuts saying that the report has set off a panic, FICCI president Rajeev Chandrasekhar has said, “We do not believe any immediate threat exists of the form that Assocham is alluding to. We should not panic.
“The report had warned about 25 to 30 per cent of the jobs being axed in the next 10 days in specified sectors. The sample size on which the report conclusions were based was, however, not revealed by the industry association.
“Assocham withdraws its report of 25 per cent job cuts,” chamber Secretary General D S Rawat said in a statement hours after .
“The report is not representative of the industrial segment in its totality.” said Rawat.
“The “analysis” of job cuts was primarily in real estate, brokerage and investment advisory sectors. “The chamber’s research team is now following up its recent analysis with a detailed survey on a much larger sample size to get a more definitive picture on corporate response to the present crisis,” added Rawat.
CII, another industry lobby, is also believed to be in the process of countering the job loss claims with its own study, reports PTI.
Assocham interestingly has now talked about emerging job opportunities in education, bio-technology, petroleum, chemicals, and health, sectors.
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1 response so far ↓
Anil Dogra // Nov 1, 2008 at 10:20 am
This is a first of its kind in the world. You blackmail the government into changing policy, by threatening layoffs. The same thing happenned with the Jet Airways. But what can you say, this is how India runs. When you expect your corporates to be socialistic, you must be ready to subsidize them. Also the best policy for India could be, to protect India from the Global Onslaught in every which way, to liberalize policies which encourages and enhances real internal competition and entrepreneurship, so that we attain real internal growth. But for that we need real hard work and planning and vision, which again could be lacking.
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