Now, Job Cuts in INDIA

For the last five years, India is boasting of creating more jobs thanks to liberalisation policy.But,today it seems the party is over.There are problems all over. Corporates warning margin pressures, employee costs,input costs ,inflation etc.
Today's announcement from Jet airways is a shocker not only to Jet employees but to all. It has decided to terminate 1000 employees including top engineers as a measure of cost efficiency.
If this is going to be the trend in the industry then India will have to suffer more than west countries.
The Finance Minister as usual will issue a statement 'Our Fundamentals are strong'. If, so why the corporates are unable to get the confidence of the investors. Does n't this show something is wrong somewhere.