India will continue to grow and even increase its rate marginally in the next couple of years according to a forecast done by ESCAP. India's economy will grow at over 7 per cent till the year 2000. This is much higher than what is expected within India.

The South East Asian economies on the other hand will grow at a much slower rate. Indonesia is expected to see a negative growth of 1.5 per cent in 1998 down from 4.7 per cent in 1997. But this will pick up in 1999 to 3.5 and reach 4 per cent by the year 2000. Hong Kong will not see a negative figure by its growth will be slower and hover around 4 per cent. In 1997, its growth was 5.4 per cent. South Korea wil also see a sharp drop in growth to 2 per cent in 1998 but will recover by the year 2000.