Yes, AME Diploma worldwide is recognized, however, the diploma's level of recognition depends on the regulating framework and aviations standards from the country where the diploma would be pursued in. In a lot of countries and India, this is the DGCA (Directorate General of Civil Aviation), which regulates how AME program should be set up and adhere to international levels set by International Civil Aviation Organizations.
But most countries require certification in order to become a licensed aircraft maintenance engineer who can practice around the world. Such requirements are, however, subject to specific national certificates or licenses acceptable to aviation authorities of the destination country. Examples include EASA Part-66 for graduates who will practice under the standards in Europe or some other national certificate such as an FAA license within the U.S. End.
Therefore, the AME diploma provides a good foundation for a global career in aviation maintenance, but further certification may be needed to work in certain countries or regions.