| If there was one word which epitomised the world in 2009, it would be courage. Courage, to pierce the darkness of challenging times and hope, amid despair. 2009 ushered turbulence, with countries around the world plunging into the recession. The housing bubble burst, followed by the fi nancial crisis creating a domino eff ect that, but, brought the world to a standstill. While robust fundamentals ensured that the recession impact on India was relatively moderate, in an increasingly globalised environment, it could not escape declining GDP growth, rising unemployment and weakened consumer demand. |