The global financial crisis led to job cuts in various sectors worldwide, including India. Despite claims of immunity, the Indian stock market crashed due to the integration of the Indian economy with the world economy. Countries like the US, Europe, and Asia responded with relief plans and bailout packages. Measures like reducing fund rates, injecting money into markets, and overhauling financial regulations were taken. The G20 meeting in 2009 pledged over $1 trillion for emergency loans to reverse the recession and tighten financial regulation. The crisis had debilitating effects on economic growth, employment, stock markets, and exchange rates, as studied in the book Global Financial Crisis.