Joshiji,
India is not insulated because in last five year India has generated employment in the IT, Infrastructure Real Estate,Finance and Service sector.
Manufacturing and Old Economy sector has minimal impact because it has hardly managed sustainable growth rate which did not generated huge employment rather they were hit by the rising cost of labour due to shortage of skills and highpaid jobs in Infrastructure Real Estate, IT ,Finance and Service Industries during last five years. More over finance, IT and Infrastructure sector has consumed the best talent in the market with best market price.
Now same price is appears to be 5 times higher than its real market worth because these positions did not generate revenue as mush as they priced for.
Economy is shrinking money is more costlier and currency circulation in the market has also shirnked obviously in this time noone can see half glass full and dare to drink with Scotch Whisky because time has changed.
Today indian economy is not only inflation has goen down but its going face deflation means overpriced material and commodities will find it difficult to trade with current market price until maket bring correction to real value and worth.
For example 3 years back one flat costing 5 lacs in Bgrade Cities same flat was charged 35 Lacs during boom time. Until this did not come down to reasonable price tag for example inflation rate and money appreciation factors will restablish the 35 lacs flat to todays 6 to 7 lacs for same flat. this is what is going to happen.
Similarly with job prices, jobs sold at 50,000 to 100,000 INR will be priced at 20,000 to 25 000 because those jobs only can generate revenue to that extent to value its market price.
Captain