“EVALUATE THE EFFECT OF GLOBAL RECESSION ON LEADING AGRICULTURE, MANUFACTURING AS WELL AS SERVICE SECTORS OF INDIA"

Abstract

In today’s era all the countries are interlinked with the web of globalization. Which means a small jerk in the foreign country leads to the great impact on the domestic country. The same incident happened in the history; better known as global crisis of United States of America. The crisis On Sept. 15, 2008, Lehman Brothers filed for bankruptcy. With $639 billion in assets and $619 billion in debt, Lehman's bankruptcy filing was the largest in history, as its assets far surpassed those of previous bankrupt giants such as WorldCom and Enron. Lehman was the fourth-largest U.S. investment bank at the time of its collapse, with 25,000 employees worldwide. Lehman's demise also made it the largest victim of the U.S. subprime-mortgage-induced financial crisis that swept through global financial markets in 2008. Lehman's collapse was a seminal event that greatly intensified the 2008 crisis and contributed to the erosion of close to $10 trillion in market capitalization from global equity markets in October 2008 – the biggest monthly decline on record at the time. In this paper an attempt is made to represent India being a part of globalization experienced what kind of impact on its manufacturing, agriculture and service sector.