The Indian prime minister's economic advisory panel dropped its economic-growth projection for this fiscal year to 5.3%, from 6.4%. The central bank and private economists predict a growth rate of about 5%.
The Japanese government is trying to persuade companies throughout Asia to invest in its facilities. Prime Minister Shinzo Abe's economic-growth strategy calls for the expansion of incoming foreign direct investment to $283 billion by 2020.
The International Monetary Fund said it is raising its projection for economic growth in Japan and Europe this year and downgrading its forecast for the U.S. due to the strengthening U.S. dollar. The IMF cut its U.S. economic-growth forecast to 3.1% from 3.6% this year, boosted the figure to 1% from 0.6% for Japan and increased its eurozone estimate to 1.5% from 1.2%.
Japanese Prime Minister Shinzo Abe's government is pressing ahead with an economic-growth strategy that emphasizes holding stock prices as high as possible. Stock prices are widely viewed as an important factor in whether Abe will remain in power.
India's inflow of foreign direct investment is likely to reach US$36 billion this fiscal year, up a bit from previous years, the Prime Minister's Economic Advisory Council predicts. Meanwhile, exports are projected to grow 10% to US$329.7 billion.