Developing Asia to 'barely grow' in 2020; India's GDP to shrink by 4%: ADB

Hit hard by Covid-19, South Asia is forecast to contract by 3 per cent in 2020, compared to 4.1 per cent growth predicted in April

The Asian Development Bank on Thursday said countries in Developing Asia will "barely grow" in 2020, while India's economy is forecast to contract by 4 per cent this fiscal due to the adverse effect of the coronavirus pandemic.

Developing Asia will barely grow in 2020, as containment measures to address the coronavirus pandemic is expected to hamper economic activity and weaken external demand, ADB said in a supplement to its Asian Development Outlook (ADO).

'Developing Asia' refers to a group of over 40 countries that are members of the ADB.

Excluding the newly industrialised economies of Hong Kong, China; the