India’s growth rate is expected to reach 7.5 per cent in 2018: UN commission

ESCAP
India's growth rate is expected to reach 7.5 per cent in 2018: UN commission

United Nations: A UN commission today informed that India’s growth rate is expected to reach 7.5 per cent in 2018, but warned that if the US policies take a very stern protectionist turn and the trend spreads, growth might get affected by as much as 1.2 per cent in the coming years.

The UN Economic and Social Council for Asia and Pacific (ESCAP) survey on Monday said India’s economic growth is projected to be stable at 7.1 per cent in 2017, before rising to 7.5 per cent in 2018, driven by higher private and public consumption and increased infrastructure spending.

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“A sharper-than-expected increase in the degree of protectionism and uncertainty is possible,” ESCAP said.

“For example, several major developed and developing countries are considering non-tariff measures (NTMs) with unclear effective dates.”

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