the global growth catalyst of recent years – have been facing difficulties stemming from some domestic challenges and unfavourable external conditions, including weaker investor sentiment, a relative slowdown in China’s growth, and financial-sector disturbances. While growth in China’s GDP averaged 7.7 per cent as compared with 9.3 per cent in 2011 and 7.7 per cent in 2012, India’s growth decelerated to 4.7 per cent, down from 7.9 per cent in 2011 and 4.9 per cent in 2012.