India champion of growth in G20: Álvaro Pereira, Chief Economist, OECD
G20 countries and its expansion will propel the global economy, OECD chief economist Álvaro Pereira said. He remained optimistic about domestic demand maintaining its upward trajectory. Pereira also flagged the need for continued emphasis on improvement in the country’s business climate and skill sets.
“India is the champion of growth in G20 and continues to show a very strong and broad-based performance,” Pereira told ET in an interview. The Organisation for Economic Cooperation and Development (OECD) raised the country’s growth forecast to 6.7% for FY25 and 6.8% for FY26, a revision of 1 and 2 basis points, respectively, with an upside risk.
'Significant Reforms’
“Solid domestic demand growth is projected to continue in India and Indonesia over the next two years,” OECD said in the September update of its economic outlook, released on Wednesday.
Pereira ruled out the risk of a middle income trap, saying India will keep driving strong growth as long as good macroeconomic management continues. “If India continues to grow 7%, for example—hopefully, it can grow even more—it means that per capita income will double every 10 years. So, it’s a fantastic rate of growth.”
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