Economic Times answering this question What’s a Recession? has made a fair analysis with some writing about India

“Is India going through a recession?”

There is no doubt that India has been affected by the recession that has beset the US economy, especially in sectors which are export-oriented or are dependent on outsourcing. However, the RBI governor last week assured that India would not see recession even if uncertainty continued globally. He stated that growth would be moderate and pegged GDP growth for 2008-2009 at 7.5-8%(ET 2Nov) Read the rest of this entry »