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26/11: an economic perspetive of Indian Economy


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26/11: an economic perspetive of Indian Economy

  1. 1. 26/ 11 : its economic perspective<br />Is India really affected by it?<br />Aftab Dewani 39<br />Ankur Kalani 42<br />Azim Samnani 44<br />Sanif Momin 43<br />Siddharth Gandhi 40<br />
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  3. 3. Mumbai attack and its aftermath<br />9/11: The attackers targeted the World Trade Center<br />26/11: The targets were two high-profile hotels and a Jewish center in India's financial capital. <br />
  4. 4. 26/11 a deliberate plan to hit Indian economy<br />Patil said<br /> looking back, we see hope. We have not only withstood the challenges but also emergedstronger.<br />“<br />”<br />
  5. 5. Terror cover premium hiked by 30%<br />The insurance companies offering terror cover decided to increase the premium rates by around 20-30 per cent, from April 2009.<br />
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  7. 7. The Impact of 26/11 on the Indian Economy<br />First Case: There was heavy foreign investment in India in the months before the attacks.<br />Second Case: Foreign investment showed a dramatic decline following the tragedy.<br />
  8. 8. 26/11 and after effects on tourism in India<br />Mumbai Terror Attacks<br />Tourism Industry<br />Terror Tourism!<br />
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  10. 10. Terrorist Attacks Will Further Weaken a Slowing Indian Economy<br />Ashok Kapur, chairman of Yes Bank, was among the 170 people killed in the attacks<br />Prime Minister Man Mohan Singh was to preside over The Economic Times Awards on 29th Nov. 2008 at Trident<br />
  11. 11. Political Fallout<br />Bade shahronmeinaiseekadhhaadsehoterehtehain. Woh 5,000 logon komaarne aye the lekinhumnekitnakamnuksaan hone diya<br />
  12. 12. Gloom and Doom<br />The attacks came at a time when India's economy had already begun to slow as a result of the global recession. <br />Global Implications<br />India has also moved closer to the U.S., which sent Secretary of State Condoleezza Rice to visit the subcontinent<br />
  13. 13. Impact on Industries<br />Tourism is one of the first areas to be hit, with hospitality and transportation feeling the pain the most. <br />Gross earnings from foreign tourists are currently around 1% of GDP.<br />Does anybody gain? Certain lines of IT, particularly those related to security, will get some benefit.<br />
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  15. 15. Terrorism is holding back Indian economy<br />India till FY 2008 had seen a steady growth with its GDP shining as high as 9.3%. <br />Subsequently, the economy was hit with US Sub Prime Crisis, Satyam scandal & the Mumbai 26/11 Terrorist attacks<br />
  16. 16. SHORT-TERM IMPACT<br />Loss of Human Capital<br />Investor Behaviour<br />Short Term Financial Loss<br />Retrenchment effect on Specific Industries<br />
  17. 17. LONG-TERM IMPACT<br />Political Instability<br />Global Implications<br />Long Term Financial Loss<br />
  18. 18. Post 26/11, India turns to Russia for small weapons<br />India, which has been procuring fighter aircraft and missiles worth $1.5 billion annually from Russia, is now looking to buy small weapons too….<br />especially after the 26/11 Mumbai terror attack.<br />
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  20. 20. Security market soars after Mumbai attacks<br />A note at the end of the invite said: "At Nasscom, we understand the security concerns that you might have following the unfortunate incident at Mumbai. In all our conferences, we ensure that the security measures are stringent and fool proof to the best of our ability."<br /> Rising security concerns are boosting the demand for products that integrate the existing security systems to offer better surveillance.<br />
  21. 21. Investors worry about another attack after Mumbai<br />While India has made some improvements to its counter-terrorism capabilities, it remains vulnerable to terrorist activities.<br />Another high-profile, mass-casualty attack would lead to intense domestic pressure on Delhi to adopt a more firm policy towards Pakistan and even retaliate, which would raise regional tensions.<br />
  22. 22. India faces growing Chinese hostility after 26/11<br />Mumbai attacks costs insurers Rs. 500 crore: IRDA<br />
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  24. 24. conclusion<br />“In any part of the world terrorism is unwanted as it not only kills the human life but also the infrastructure, industry ultimately shackling its overall growth”.<br />