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OECD Raises India Growth Forecast to 7.1% for 2026-27
The Organisation for Economic Co-operation and Development (OECD) raises its growth forecast for India to 7.1% for 2026-27, up from 6.3% earlier. The update is reported as the latest revision by a global body on India’s growth outlook.
Organisation for Economic Co-operation and Development:
| Dimension | Key Details |
|---|---|
| Nature | The OECD comprises an international organization established to foster economic growth and development among member countries. |
| Successor Body | The OECD provides for succession to the Organisation for European Economic Co-operation (OEEC). |
| Establishing Instrument and Dates | The convention establishing the OECD is signed on Dec. 14, 1960, and has come into effect on Sept. 30, 1961. |
| Founding Signatories | The convention is signed by 18 European countries, the United States, and Canada. |
| Membership | The OECD comprises 38 member countries. |
| Member Profile | OECD members are typically democratic countries that support free-market economies. |
| Headquarters | Headquarters comprise Paris, France. |
| Stated Goal | The stated goal of the OECD is to shape policies that foster prosperity, equality, opportunity, and well-being for all. |
| Activity Areas | The OECD’s activities encompass trade, industry, agriculture, and environmental protection, with a focus on sustainable development. |
| Governance Structure | The governance structure comprises the OECD Council, the OECD Secretariat, and numerous committees addressing specific topics such as public governance and climate change. |
| Decision Enforcement | The OECD lacks the power to enforce its decisions, and comprises a consultative assembly pursuing its program through moral suasion, conferences, seminars, and publications. |
| Publications Output | The OECD publishes economic reports, statistical databases, analyses, and forecasts on the outlook for economic growth worldwide. |
| Major Reports | Major OECD reports comprise OECD Economic Outlook; PISA (Programme for International Student Assessment); Health at a Glance; Country Peer Review Reports. |
| Anti-Bribery and Financial Crime | The OECD also seeks to eliminate bribery and other financial crime worldwide. |
| Tax Havens Listing | OECD activities provide for a “black list” of nations considered uncooperative tax havens. |
| India and OECD Status | India has been an OECD Key Partner since 2007, and comprises one of the non-member economies with which the OECD maintains working relationships. |