UNCTAD forecasts India's growth at 5.2% in 2013

September 14, 2013

As per the Trade and Development Report 2013 released by the United Nations Conference on Trade and Development (UNCTAD), Indian economy is likely to grow at 5.2% in 2013 calendar year on account of rising domestic demand.
UNCTAD’s India growth prediction at 5.2% for 2013 is however lower than the International Monetary Fund’s forecast of 5.6% for the same period.
For China, the report projected a moderate decline to about 7.6% in 2013 from 7.8% last year.
India’s economic growth declined to a decade’s low of 5% in 2012-13 fiscal. The RBI has projected a growth rate of 5.5% for the current fiscal.
As per UNCTAD, the global growth in 2013 is likely to marginally drop to 2.1% from 2.2% in 2011 and added that developing countries would be affected by slowdown in developed nations.

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