New Delhi: Global investment firm, Moody’s, says that driven by renewed growth in India and China, the world economy is beginning to recover from the one of the worst economic downturns in decades. “The world economy is starting to recover thanks to renewed growth in China and India,” according to a report by Moody's Economy.com, an arm of Moody's.

India and China, which are two of the world’s fastest growing economies despite the global slowdown, have led the growth. The Chinese GDP has risen by 7.9 per cent while that of India has grown by 6.1 per cent in the April-June 2009-10 period. Moody’s has now revised India’s growth forecast to 6.4 per cent for the current fiscal on September 3, 2009.

Economies in the European, North American and Latin American regions too are beginning to bottom out.