Commerce and Industry Minister Kamal Nath says there will be lesser jobs on offer in the Indian industry but existing jobs won’t be affected. Karan Thapar, Kamal Nath also said Indian companies must learn to live with lower profits, instead of thinking about laying off employees.
Karan Thapar: Wipro, Infosys, Satyam all of them could begin to suffer, they could find contracts be cancelled, they may be under pressure themselves to contract and therefore may lay off people.
Kamal Nath: I don't think so. What could perhaps happen is, and what they have said is, that they may not be able to create the same number of jobs.
Karan Thapar: So growth in jobs may be checked.
Kamal Nath: Growth in employment generation will be affected
Karan Thapar: But you are saying actual levels of employment that exist should not be affected.
Kamal Nath: Will not be affected.
Karan Thapar: Regardless of whether you are talking about exports, manufacturing, or services.
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