After Large scale lay offs by Jet Airways, the industry chambers Assocham has predicted upto 25 percent job cuts in the infrastructure, services and aviation sector. After a survey, the Assocham declared that the layoffs shall be in seven key sectors namely steel, cement, IT-enabled services /BPO, financial and brokerage services, construction, real estate and aviation.
The markets in US and Europe are undergoing a major slowdown and the Indian Leather exports have been badly affected. The Leather industry of India saw a significant growth of 13.67 percent at $3.47 billion in the year 2007-08, which broke a four year record. This confidence instigated the industry to set a target of $ 4 billion in the next fiscal. 
