India fastest growing economy in Asia, says ADB

KalingaTV News Network

Hanoi: India will continue to be the fastest growing economy in Asia and is on track to meet current fiscal year’s projected growth of 7.3 per cent, Asian Development Bank (ADB) said in a new report on Friday.

The ADB maintained that Indian economy’s growth will further accelerate to 7.6 per cent in 2019, as measures taken to strengthen the banking system and tax reform boost investment.

The report said, South Asia, led by India will continue to be the fastest growing sub-region despite rising tensions between the US and its trading partners.

ADB Chief Economist Yasuyuki Sawada said, though rising trade tensions remain a concern for the region, protectionist trade measures, implemented this year so far, have not significantly dented buoyant trade flows to and from developing Asia.

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