India’s economy to rise to 7.3 percent, China to grow 6.6 percent in 2018-19:ADB

Manila:India’s economic growth will rise to 7.3 per cent in 2018-19 and further to 7.6 per cent in the next financial year, while China is expected to register 6.6 per cent growth in the current financial year, Asian Development Bank in its outlook report released on Wednesday said.
The Manila-based bank said, “risks to trade are high” and retaliatory action could dent growth in the Asian region.
The bank said China’s growth accelerated on strong demand from home and abroad.
“Expansion in China should moderate to 6.6 per cent in 2018 and 6.4 per cent in 2019 as economic policy leans further toward financial stability and a more sustainable growth trajectory,” the ADB said in its report.
It also said that service sector is fueling China’s continued growth, increasing by 8 per cent in 2017. Strong demand at home and abroad together with economic reforms lay the foundation for continued growth and macro-economic stability in China, the report added.