Recession hits export industries in Ludhiana

The ongoing global financial crisis has taken its toll on export industries of Ludhiana as they are facing slump due to fall in demand. From hosiery industry to engineering to cycle industry, the economic slowdown has cast a dark shadow over the industries with many employees having been handed over the pink slip. Confirming the reports of slowdown, industry experts said that the worse is yet to come. Meanwhile, workers employed in various industries now fear for their livelihood.