New Delhi, Nov 16 : With the signs of global reversionary trends setting in, Indian Inc say that while they are worried about the global meltdown, they are also confident that the Indian industry can sail through.

According to reports the Indian economy is likely to expand by 7.4-7.8 per cent during 2008-09 fiscal year, slower than nine per cent of last year, as credit crunch and global downturn trims growth.

At a three-day ''Indian Economic Summit'' organised by the Geneva-based World Economic Forum in collaboration with Confederation of Indian Industry (CII) in New Delhi, captains of the Indian industry huddled to debate out issues related to the global downturn on Sunday.

Washington  - Winding up the Washington summit on Saturday of the leaders of the world's top economies, US President George W Bush stressed the speed with which the meeting had been pieced together.

The Group of 20 (G20) government chiefs attending the summit called for a series of rapid moves to face up to the fallout from the financial crisis that has recently engulfed global markets.

But much of the complicated work of overhauling the global financial regulatory system has been handed to finance ministers who have until the end of March to report.

Washington - The world's emerging economic powers came out of an historic financial summit Saturday emboldened by their new role in fixing the global economy.

The Washington summit marked the first-ever meeting of leaders from the Group of 20 (G20) nations, a bloc that brings together the world's leading industrial nations and some of the top developing economies including China, India and Brazil.

The gathering's final declaration made clear that the wider bloc will be central to reforming the global financial system over the coming years and made no mention of a role for the smaller G7 or G8 - a sign that emerging economies will keep their seat at the policy table for the foreseeable future.

Washington - US President George W Bush hailed an agreement by world leaders on Saturday to implement broad reforms to the international financial system without infringing on the free-market principles that are the backbone of the global economy.

"This was a very successful summit," Bush said at the conclusion of an emergency conference in Washington designed to stave off a rapid collapse of the world economy.

Washington  - Russian President Dmitry Medvedev said he was satisfied with the steps that the world's largest economies agreed to enact during an emergency summit in Washington on Saturday to address the financial crisis.

"I'd like to say I am satisfied with the results we've achieved," Medvedev told a gathering at the Council on Foreign Relations think tank after attending the Group of 20 summit hosted by US President George W Bush.

New York - UN Secretary General Ban Ki-moon on Saturday welcomed the agreement reached by the leaders of the Group of 20 nations to better regulate global financial markets.

Ban praised "the agreement on the international coordination of stimulus packages, a move he had advocated in his remarks at the White House, also new market regulation to avoid future crises, more inclusive new economic governance, and the need to avoid trade and investment protectionism," his spokesperson said in a statement released in New York.