India to lead global economic growth: OECD
India is poised to register strong economic growth in 2011 that will offset the impact of slowdown in some developed economies, Secretary General of the Organisation for Economic Cooperation and Development (OECD) Angel Gurria said Monday.
"The prospects of growth of Indian economy is pretty strong.
It played a substantial role in global recovery... It is helping average growth of the global economy look good," Gurria said while addressing a joint press conference with Finance Minister Pranab Mukherjee here.
The OECD is likely to release its report on the Indian economy Tuesday.
Without specifying, Gurria said: "The Indian economy is enjoying one of the highest growth rates in the world, more than triple the rate of the OECD member countries."
"India's estimated GDP for 2011 will place it tenth in the world, ahead of 27 OECD members. The prospects for continued high rates of growth in the Indian economy appear strong," he said.
Addressing a seminar on taxation organised jointly by the ministry of finance and the OECD, Gurria said that, with high economic growth, India has witnessed a significant shift in the pattern of overseas investments.
"Between 2000 and 2007, stocks of foreign direct investment into India increased five-fold, but outbound foreign direct investment increased over 16-fold," he said.
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