Asia Pacific: Economic overview
India is forecast to see consistent economic growth this year and next, in contrast to Asia’s other leading economies.
India will lead Asia’s economic growth this year and next. The country’s GDP grew by 7.0% in 2016 and is forecast to rise by 7.3% in 2017 and 7.7% in 2018. Growth will be supported by structural reforms and public sector wage increases. Gas demand has been rising and is set to continue to do so this year and next. However, the availability of lower priced LNG has been and will continue to be essential to growth. Despite its quickening economic growth, India is expected to remain sensitive to LNG price changes. Consequently, India’s LNG imports could falter as prices rise.