Paris/New Delhi : Revising its forecast downwards, Paris-based think tank OECD projected 5.4 % growth for the Indian economy this year as global recovery continues at a moderate pace.
Earlier in September, it had projected 5.7 % growth rate for India. “Growth will strengthen in India as investment picks up, from a 5.4 % rate in 2014 to 6.4 % in 2015 and 6.6 % in 2016,” according to the advanced G20 release of the OECD’s latest Economic Outlook.
OECD Secretary-General Angel Gurría said a number of business-friendly measures have been adopted over the past few months in India. Global GDP growth is projected to reach a 3.3 % rate in 2014 before accelerating to 3.7 % in 2015 and 3.9 % in 2016, according to the Outlook.
