l mean Christmas is coming up so this quarter will be good and also early next year should be goodfrom all this government spending that will kick in, so when exactly is this recessio

They're already expecting slow sales out of Christmas (that is why it is not even Halloween and some christmas things are coming out - in an attempt to get shoppers to spread their spending out over the quarter which started 1 October, because there wo not be a lot to go around at the end!).

Technically, a recession is 2 subsequent quarters of negative real GDP growth. so we will see what new years day has in store, wo not we???

The world economy is slowing down. It will not affect all the nations & all the economies equally. Recession ( as in Great Depression ) may not happen & as it is the recession will not happen overnight. It is a slow process.

India will not be as affected as some other nations ( like Pakistan on the verge of bankruptcy plus few other economies on high inflation). India is internal economy is supported by the vast population. It has a wide & vast market. The Indian economy is more supported by the people numbers. We have adequate demand in almost all sectors of the economy. Additionally the savings rate is one of the highest in world, which supports the capex & investment plans more robustly.

India will also slow down a bit but l do not think that we r heading for the recession here.