The readings, for the month of October, are based on Composite Leading Indicator that are designed to anticipate turning points in economic activity relative to trend.
Unemployment levels will remain high in most of the developed world till the end of next year and low-skilled people are expected to bear the brunt, OECD said.
In its latest interim Economic Assessment report released today, OECD said a moderate expansion is under way in most major advanced and emerging economies.
As many as 45.5 million people were unemployed in September in the OECD region, a grouping of mostly developed nations.
India has already signed the OECD's global standard for automatic exchange of information between tax authorities two years back and once the new format is implemented, the country will follow the new protocols envisaged in it.
India's CLI has been on the rise since October 2014.
Growth has slowed in some of the large emerging economies, its interim economic assessment report added. "One factor has been a rise in global bond yields -- triggered in part by an expected scaling back of the US Federal Reserve's quantitative easing -- which has fuelled market instability and capital outflows in a number of major emerging economies, such as India and Indonesia.
The Organisation for Economic Cooperation and Development is a grouping of 34 countries.
"The unemployment rate for the OECD area was 8.6 per cent in September 2009, the same as the previous month and 2.3 percentage points higher than a year earlier."
With emerging economies facing the possibility of "abrupt slowdowns", India's Gross Domestic Product growth rate could slip to as low as 4.3 per cent in 2009, said the OECD.
The OECD, in March, projected 4.3 per cent economic expansion for India in 2009. The report further said the extent of the deterioration in the fiscal position prior to the slowdown has reduced the scope for 'discretionary fiscal policy action'.
It feels worsening economic downturn will dent the internet economy. The only silver lining for the IT sector, which generates about $50 billion for Indian IT services companies, is the likely growth in the services and software sectors 'along with new internet and communications-related products and infrastructure, as they are an essential part of spending and partly recession-proof,' the OECD report said.
OECD wants India to reduce trade and FDI barriers, and issue more banking licences.
The global economy is projected to expand by 4.2 per cent this year, but rising oil and commodity prices and European debt crisis could hurt the overall recovery, according to Paris-based think-tank OECD.
In a major development in the fight against black money, multilateral grouping OECD today unveiled a 'single global standard' for automatic exchange of financial account information by various countries including India and Switzerland.
CLIs, which include various parameters, are designed to anticipate turning-points in economic activity relative to trend.
The largest numbers of international students to countries in the 33-nation Organization for Economic Cooperation and Development (OECD) grouping are from China and India, with the highest number of Indian students choosing the US as their proffered destination for tertiary education.
The estimates are for a group of 33 nations, including the US and Spain; the number represents 1 in 3 of unemployed people
Growth in India is expected to remain strong and stable in 2015
The Organisation for Economic Co-operation and Development (OECD) has in its latest report applauded the Indian economy's resilience and has projected a growth rate of 7 per cent in 2010 and 7.5 per cent for 2011. However, it says that India's central bank must tighten its monetary policy fairly soon to contain the rising inflation. "Given the speed at which inflation has bounced back, monetary policy will need to be tightened fairly soon," the Paris-based OECD.
India will grow at around 8 per cent this year and next, but the principal risk to this projection stems from the demand-led inflation that "would occur if the total Pay Commission award for government employees were to be paid out immediately," the Paris-based Organisation for Economic Cooperation has warned.Besides, "quick action to write off small farmers' debt would also add substantially to demand," the OECD indicated in its latest Economic Outlook.
According to the OECD database on the foreign-born and expatriates, more than half of Indian immigrants possess at least tertiary education.
The observations are based on the grouping's latest composite leading indicators released on Monday, that provide early signals of turning points with regard to economic expansion and slowdown.
OECD has ranked countries in the block based on quality of life.
India is projected to see moderate average annual growth of 5.9 per cent during the 2014-18 period amid the country witnessing macroeconomic weaknesses, according to Paris-based think tank OECD.
The Organisation for Economic Cooperation and Development has projected the Indian economy to expand 8.5 per cent in 2011-12, much lower than the growth of 9.6 per cent witnessed in 2010-11 financial year.
It says that growth outlook for most countries is improving lead by US and UK.
OECD has identified at least four tax jurisdictions -- Jamaica, Qatar, Botswana and Ghana - whose tax information system would be studied to find out if they are emerging as the new tax havens following the crackdown on the existing ones. A unique tax identification number would be akin to a global permanent account number for Indian taxpayers which could remain the same across jurisdictions.
That most Indian settlers abroad have fared well is a known fact but when it comes to the number of migrants to the developed world, Chinese are far ahead, says the latest report by OECD on migrants.
Despite all the noise around India's chance to leverage the China-plus one strategy, India's share of global foreign direct investment (FDI) inflows fell from 3.5 per cent in the first nine months of 2022 to 2.19 per cent in the same period in 2023, according to OECD data. The sharp drop of 54 per cent is much steeper than the overall global FDI inflow decline of 26 per cent in the first nine months. FDI inflows to China have fallen dramatically from a share of 12.5 per cent in the first nine months of 2022 to only 1.7 per cent in the same period in 2023.
Mauritius, country from where large amounts of investments are routed to India, figures among the nations that have substantially implemented tax standards. Among the countries that have committed themselves to the internationally agreed tax standards but have not yet implemented them are Singapore, Switzerland, Bahamas, Bermuda, British Virgin Islands, and Cayman islands.
Finance Minister Pranab Mukherjee earlier this month approved the proposal for deputing the officials at the Paris-headquartered body as advisors.
While the Reserve Bank and the Economic Survey of the finance ministry have projected India to grow at 6.9 per cent and 6.5 per cent in current fiscal, the International Monetary Fund estimates it to be 6.6 per cent.
India's economic growth can reach a sustainable 10 per cent and be spread more evenly across the country if the government pursues ambitious and wide-ranging economic reforms, Organisation for Economic Cooperation and Development has said in a survey.
In a major boost to combat the menace of black money across the world, top financial body OECD has amended its rules on obtaining classified tax information by partner countries.
India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.
In a boost to the embattled Adani Group, Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the nation's Parliament that Hindenburg Research's allegations of the presence of 'shell' companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules. US short seller Hindenburg on January 24 alleged that billionaire Gautam Adani used shell companies based in Mauritius to manipulate stock prices of his Indian-listed companies.
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