ADB sees India growing 4.7 percent in 2013

MANILA Wed Dec 11, 2013 7:31am IST

A labourer stands on a truck carrying construction materials at a construction site of residential buildings in Noida on the outskirts of New Delhi November 29, 2013. REUTERS/Adnan Abidi/Files

A labourer stands on a truck carrying construction materials at a construction site of residential buildings in Noida on the outskirts of New Delhi November 29, 2013.

Credit: Reuters/Adnan Abidi/Files

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MANILA (Reuters) - 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.

(Reporting by Rosemarie Francisco; Editing by Richard Borsuk)

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