New Delhi: Hard hit by the global economic downturn, Indian exporters laid off almost one lakh workers in the five months between August and December of last year. The move was taken with export order losses mounting to as much Rs 4,560 crore in the period due to global demand slowdown.
These estimates are up by almost 65 per cent from the commerce and industry ministry’s figures last month. It had estimated that exporting companies had axed 65,500 employees due to a significant slump in the US and Europe, the country’s biggest markets.
According to a sample survey conducted by the Directorate General of Foreign Trade (DGFT), total job losses reported in 283 export-oriented units in the five-month period are estimated at 95,866. Of the total, 24 chemical-based units accounted for almost 38 per cent job losses, shedding 36,749 workers. At the same time, these units faced an export order loss to the tune of Rs 302 crore.
The other major sector that went in for pruning its work force is the automobile sector. Dipping exports and dampening domestic demand forced 22 automobile components and 6 sports goods companies to axe 21,549 jobs in the stated period, losing combined export orders worth Rs 1,574 crore.
Source : indianExpress.com