Very recently  I heard on one of the news channel(Bloomberg news) that US recession is coming to end, infact its actually ended.

http://www.mortgageloan.com/recession-may-have-ended-in-april-economists-3142

But is it really so or this is just another specualtion by economists who say different things. And in all the where does India stand. Unlike the developed countries like UK and US, India does not seem to be much affected by the recession, except for a few companies. Infact till September-October India did look very much unaffected. But it now it does look like its starting to feel effects of the global slowdown. Exports have decreased, and the growing rate of rupee was a cause concern for exporters. Industries like textiles, IT, Jwellery seem to be most affected. But still in all this mayhem, there is a definitely a positive side also. The current scenario gives the government to have increased rate cuts due to lowering of inflation. Food and FMCG commodities prices will be reduced. Since India being an agricultral country, good monsoon in 2009 will boot agricultral production.

Though India will definitely be affected by the downturn, the effects wont be as bad as other countries and the recovery time will also be less.