The document discusses the effects of the global economic recession in India. It first provides an overview of what constitutes a recession and some of the typical causes such as currency crises, inflation, and national debt. It then discusses the specific causes of the current global recession, including sub-prime lending crisis and tightening liquidity. Some of the key effects in India included difficulties in borrowing, falling stock markets, and unemployment. The document outlines strategies for businesses to deal with the recession, such as reevaluating pricing, monitoring cash flow, and reducing costs and stock levels. It also provides a SWOT analysis for operating during an economic downturn.