The Indian economy is showing signs of a turnaround, but new reforms are needed to put the country on a path to strong, sustainable and inclusive growth, according to the latest OECD Economic Survey of India.
While the outlook for many OECD countries remains subdued, Emerging Asia is set for healthy growth over the medium term. Annual GDP growth for the ASEAN -10, China and India is forecast to average 6.5% over 2015-19. Growth momentum remains robust in the 10 ASEAN countries, with economic growth averaging 5.6% over 2015-19.
India has rebounded swiftly after the global economic crisis, but is experiencing a slowdown in economic growth since 2012.
Source: OECD Main Economic Indicators (updated continuously) - Composite leading indicators (CLIs) are calculated for 29 OECD countries (Iceland is not included), 6 non-member economies and 9 zone aggregates. A country CLI comprises a set of component series selected from a wide range of key short-term economic indicators mainly covered in the MEI database.
A major step forward towards putting the measurement of well-being at the heart of policy-making was taken at a four-day international conference which ended in New Delhi today.
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Renewed impetus for reforms is essential for India to continue to narrow its major gap in living standards with middle-income and OECD economies, to reduce widespread poverty, to reverse rising inequality and to improve the wellbeing of all Indians. Based on the expertise of OECD, this report presents an update of policy advice in critical areas to India’s long-term economic performance and social development.
During his official visit to India, OECD Secretary-General Angel Gurría will participate in an interactive session with Indian industrialists to discuss the global economic situation, the outlook for the Indian economy and the OECD-India cooperation.
Drawing on the OECD’s expertise in comparing country experiences and identifying best practices, this book tailors the OECD’s policy advice to the specific and timely priorities of India, focusing on how its government can make reform happen.
Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.
Using plant-level data from the Annual Survey of Industries for the fiscal years 1998-99 through 2007-08, this study provides plant-level cross-state/time-series evidence of the impact of employment protection legislation on total factor productivity¨and labour productivity in India.