The international organisation also assured that India is likely to remain the fastest growing emerging economy in Asia and the world while also stating that the growth rate of largest economies in the region, China and Japan backed by suitable policies, also is strong at present

Furthermore, it also stated that forward-looking indicators such as the Purchasing Managers' Index of the Asia region is likely to continue strengthening in 2017, forecasting the growth to escalate from 5.3 per cent in 2016 to 5.5 per cent in 2017.

While Japan's growth momentum is likely to weaken after 2017, due to fiscal policy consolidation with the planned consumption tax increase, Asia is likely to remain as a global growth leader.