OECD: India’s GDP to grow 7.7 per cent in 2015

New Delhi: The Paris-based Organisation for Economic Cooperation and Development (OECD) boosted its forecast for India significantly to 7.7 per cent gross domestic product (GDP) growth in 2015, 1.3 percentage points higher than it was previously, while for China it trimmed its forecast by 0.1 points to 7 per cent.

"India is now expected to be the fastest-growing major economy in 2015-16, overtaking China," said the OECD, which predicted growth accelerating to 8 per cent in 2016 versus 6.9 per cent in China. For economies representing some 70 per cent of the global economy: the US, Euro Zone, Japan, Britain, Canada, China, India, Brazil, the OECD highlighted that it was now expecting GDP growth of 4 per cent in 2015, up 0.1 points from its previous November 2014 prediction.

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