A survey conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI) revealed that the global slowdown would continue to impact Indian economy.

Companies may employ various cost cutting measures including production cut, salary slash and retrenchment. Manufacturing companies can cut production up to 50 per cent following low demand in the market. Various manufacturing segments such as textile, leather and leather products reportedly have chalked out a policy for production cut for the period of November 2008 to March 2009.

Textiles, metals and metal products sector reported negative growth up to 30 per cent in October and these sectors are unexpected to revive growth despite stimulus package announced by the government. Labor intensive manufacturing sector is planning to reduce manpower by 10-30% in the next three months due to massive slowdown in demand.           
 
Industry is not satisfied with the economic booster package announced by the union government and demanded more financial assistance in terms or interest rate cut.

The survey conducted by FICCI covers 200 companies including small and medium enterprises.