As per reports, recently Paris-based think tank OECD highlighted the fact that, while nearly all of the main economies together with the US are seeing moderation in growth signs, India is still witnessing stiff growth prospects.
OECD report: US, China dwindling, but India on a sturdy footing
Meanwhile, these most recent projections come at a time when the international economy all together is struggling with doubts, particularly at the time when the Chinese economy is on the slowdown track.
Moreover, giving more details about the present economic status, the Organization for Economic Cooperation and Development (OECD), highlighted the fact that presently India is balanced for improved development prospects; while the growth loss momentum is anticipated in the UK and the US although from comparatively high levels, it highlighted that moderating growth outlook signs are seen in most major economies.
On the other hand, the readings are based on Composite Leading Indicators (CLIs) which are designed to foresee turning points in economic activity comparative to the current economic trend; India is certainly seeing the better growth prospects.
In the meantime, from 99.8, which was recorded in the month of July, presently India’s Composite Leading Indicators (CLIs) has inched up to 99.9 in the month of August.
“Among the major emerging economies, CLIs continue to point to a loss of growth momentum in China, and weak growth momentum in Brazil and Russia. Firming growth is expected in India,” OECD stated in a report.