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Due to European economy in recession, many companies have been suffering in their business with huge losses. This is revealed in a survey by industry chamber FICCI. Freshly isolated areas, 73 per cent of the companies surveyed provided a minimum of 20 per cent reported that their business is suffering losses due to the European crisis.

This is because 18 per cent of the business has been reduced to 10 per cent. 60 per cent of the respondents believe that the current economic situation is unlikely to improve in the next three years.

Due to the poor economy, 50 per cent of European companies in Africa, the Middle East, Southeast Asia and North America have been the choice for business expansion. Although 20 per cent of companies are hopeful of improvement in Europe in the next one year.