India's economic growth likely to be 'below trend': OECD

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• Indian economy’s growth is expected to be “below trend” even as neighboring China and most of the developed nations are expected to see better prospects said by OECD
• The conclusions are based on Composite Leading Indicator (CLI), which are designed to anticipate turning points in economic activity.
• “In the emerging economies, the CLIs point to growth around trend in China, Brazil and Russia, and to growth below trend in India
• These readings also indicate that a re-balancing is happening in the global economy with better growth anticipated in the developed world than in the developing countries

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OECD-

The Organization for Economic Co-operation and Development (OECD) is an international economic organisation of 34 countries founded in 1961 to stimulate economic progress and world trade

• It is a forum of countries committed to democracy and the market economy, providing a platform to compare policy experiences, seek answers to common problems, and identify good practices and co-ordinate domestic and international policies of its members.
• The OECD originated in 1948 as the Organization for European Economic Co-operation (OEEC),
• The OECD defines itself as a forum of countries committed to democracy and the market economy, providing a setting to compare policy experiences, seek answers to common problems, identify good practices, and co-ordinate domestic and international policies
• Its mandate covers economic, environmental, and social issues

The OECD promotes policies designed:

• To achieve the highest sustainable economic growth and employment and a rising standard of living in Member countries, while maintaining financial stability, and thus to contribute to the development of the world economy;
• To contribute to sound economic expansion in Member as well as nonmember countries in the process of economic development; and
• To contribute to the expansion of world trade on a multilateral, nondiscriminatory basis in accordance with international obligations.