India's stellar economic performance set to slow this year: ADB report

Tokyo

FOR several years, India has been a star performer among Asian economies, with annual output rising continually above the 7 per cent level while China's growth has eased and other economies slowed. But India's short-term prospects have dimmed, according to the Asian Development Bank (ADB).

In a supplement to its Asian Development Outlook 2016 Update report that was published in September, the ADB said on Wednesday that it was cutting its earlier projection that Indian gross domestic product (GDP) would grow by 7.4 per cent this year to just 7 per cent.