Contrary to forecasts of India seeing good growth momentum in coming months, the Paris-based Organisation for Economic Cooperation and Development (OECD) today cautioned the country’s economic recovery appears to be “losing steam”.
“There are signs of regained growth momentum in the Chinese economy owing to a strengthening of investment and retail sales. India’s economic recovery appears to be losing steam,” it said.
OECD comprises of mostly developed nations that account for 60 per cent of global economic output.
The Indian economy recorded growth of 8.9 per cent in the first half of the current financial year.