It is inconvertible reality that the global economic downturn that started in the third quarter of 2008 continues and has become an unprecedented event across the world. A number of countries are experiencing rapid contraction in their Global Domestic Product (GDP), rising unemployment levels and an overall slowdown investment velocity. The economic crisis traumatized the financial markets as it spread to all sectors of the world economy and moreover the exact depth and breadth of the impact is still uncertain. Indian economy is also not aloof from this. At the time when
Indian economy was anticipated to grow it was confront by economic meltdown across the world and some unpredicted incidents challenged our business growth.

There were so many things that went seriously wrong, either at the financial side or government policy side. The economic conditions are still extremely fragile. Organizations are worried if this recovery is fake and a new crisis is just waiting to unfold. This recovery comes under increasing pressure to deal with high levels of debt which may stave off another recession. In order to relieve uncertainties, Pranab Mukherjee, India’s finance minister, said that India’s fundamentals are strong and the country is in a better position than other nations to meet the challenge of economic downturns although there could be some impact here also. As Mr. Mukherjee said that there may be some impact – chances of economic crisis in India can be foreseen. Weak finances, persistently high inflation and policy inertia have considerably weakened the government’s position today. In this unpredictable economic condition, an organization needs to be agile in responding to challenges and resilience for business growth. A framework for constructing resilience and competency to maintain sustainability and growth may be required.