The document discusses the impact of the global economic recession on the Indian markets. It notes that as many rich countries were badly affected by the recession, the Indian economy has also been hurt. Specifically, the recession has impacted the Indian IT industry as major Western clients cut back on outsourcing. However, a survey found that average salary increases in India in 2009 would still be 8.2%, the highest in Asia, though lower than the 13.3% increase in 2008. Certain sectors like healthcare were faring relatively well in India.