Fibre of a downturn

As growth slows, many of India’s economic vital statistics are hovering at critical levels. But no statistic has been as depressing as reports of layoffs in many sectors. Job losses bring the economic downturn home in a way that abstractions about fleeing investment do not. Given its demographics, India needs to generate jobs at a higher rate than any other nation has had to — by 2017, 80 per cent of Indians will be between the ages of 15 and 59, and expecting to have a job.

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