This is attributed to the country’s robust and diversified economy, a strong domestic market, and a relatively high level of employee retention. **Key factors contributing to this scenario:**

* **Robust and diversified economy:** India’s economy is not solely reliant on the tech sector. It boasts a diverse range of industries, including agriculture, manufacturing, and services, providing a buffer against economic downturns.

The slowdown in hiring is attributed to several factors, including the global economic slowdown, rising inflation, and the ongoing war in Ukraine. These factors have created a challenging environment for businesses, leading them to prioritize cost-cutting measures and postpone hiring decisions. TeamLease Digital, a leading provider of recruitment and HR solutions, has observed a significant shift in the hiring landscape.

* **Over-hiring during the pandemic:** Many companies, especially in the tech and start-up sectors, aggressively hired during the pandemic to capitalize on the surge in online activity. This led to a situation where many companies now find themselves overstaffed. * **Economic slowdown:** The global economic slowdown has impacted consumer spending, leading to reduced demand for online services and products. This has resulted in a decline in revenue for many companies, forcing them to cut costs, including laying off employees.

* Sharma, a prominent economist, predicts a global recession in the next two years. * He emphasizes that India is not currently experiencing a recession. * Sharma highlights the importance of fiscal and monetary policy in mitigating the impact of a global recession. **Detailed Text:**

The global economic landscape is facing a significant challenge, with prominent economist, Sharma, predicting a looming recession in the next two years. This prediction, based on a complex analysis of global economic indicators, has raised concerns about the potential impact on various sectors and economies worldwide.