Recession is the biggest threat that any industry can face in its business life cycle. This not only affects the organization in which it happens but also to the people who are closely associated with it. This is why before choosing a career or any job profile it is very important to understand the turmoil associated with this industry and the stability of that industry. There are few industries right now present in India which you can easily call it as the recession-proof industry.
There are currently such industries present in our country that are not being affected by recession at any cost. Hence, let’s find out the names of such industries that may be affected due to this.
- Health Care Industry:- Any economic slowdown or a liquidity crisis cannot tamper the growth of any Health care industry. The reason is they are not dependent on the stock markets. Secondly, no one cares for money when the question of the right medication and hospital facility is essential. The very important thing that bothers is the well being of a human being. This is why you can easily call this sector as one of the safest sector and recession-proof industry in India for the past few decades.
- Education industry:– After the Health care industry another industry that can stay alive and can face the challenges of recession is the education industry. People will not quit from sending their child to schools, colleges, or any educational institutes even if their parents face the turmoil of economic recession. This Industry will grow at a continuous pace and speed.
Better to say that, the enrollment of the students will increase every year in spite of any economic downturn in the country. During the times of recessions, people can lose their jobs but they will still send their child to school or any other educational institutes. Many people may make up their mind to get their education in the online mode if they have any financial problems. The demand for higher education increases every day as industries want application-oriented candidates in their organization. This is why this is also a very safe and recession-proof industry today in India.
Fast Moving Consumer Goods (FMCG):- This is the most highly demanded sector in the Indian Economy. This is also the 4th largest sector on which you can easily bank upon your investment very easily.
Two main reasons for being it are recession-proof is it provides products that are related to household and personal care. The demand for their products is known elastic in nature and it serves the needs for sourcing and providing those products to the customer that they require in their daily life like toothpaste, soaps, detergents and other skincare products. Such basic necessity items we cannot avoid to buy. The reason is they provide us with those products that are related to fulfilling our basic needs in our daily life and we cannot live without it. Along with that, it is being expected that the market for the FMCG sectors in the coming years will grow up to 6.7%.
- Utility Industry:- Oil and Gas, Tea and water heater, electricity are those items without which we cannot even imagine our daily life today. This is why you can easily consider this Industry to be the most recession-proof industry in our country recently.
Every year the prices of petrol, electricity and gas increases in every budget. This is why the demand for this industry will never fall even if you face the situation of chronic recession. The reason is it fulfils the needs for basic necessity and not the luxury.
Only if the situation is out of control then only their consumption can be curtailed not before that.
- Media & Entertainment Industry:- This actually comes at last of the list the reason is big media and entertainment industry has also become a necessity for every people in the country. This is why you can easily consider this sector to be recession-proof.
No one today can quit watching news or reading newspaper. This is why the chances of this industry are very low to face any kind of recession at any point in time.
Hence, from the above explanation, it has become clear that which the recession-proof industries of India. This is why opting for any jobs or any career field you must ensure that this industry must not get shut down or not face any sort of economic downturn at any point of time.
Just make a judicious decision while choosing your career path and take the right decision so that it cannot hurt your job or profession at any point in time. Choose the profession that doesn’t become your headache in the long run.
Therefore, best of luck and make the correct choices regarding your career in your future endeavour.