ADB sees India growing 4.7 percent in 2013

Last Updated: Wed, Dec 11, 2013 03:47 hrs

The Asian Development Bank (ADB) on Wednesday kept its growth forecast for India at 4.7 percent for this year, and sees the country growing at 5.7 percent in 2014.

The Manila-based bank slightly raised its forecast for China this year and the next, aided by the impact of government reforms and better prospects for key trading partners.

The bank lifted its 2013 forecast for China to 7.7 percent, from 7.6 percent in October. It now sees 2014 growth at 7.5 percent rather than 7.4 percent.

However, the ADB lowered estimates for Southeast Asia this year and in 2014, in the wake of a strong typhoon in the Philippines and political uncertainties in Thailand.

The bank kept its growth forecast for developing Asia at 6.0 percent this year and 6.2 percent next year.

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