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India is poised to return to a high growth path while its BRIC peers Brazil, China and Russia are expected to record below-trend growth rates, an OECD report said today.
“CLIs (composite leading indicators) point to growth below trend in Brazil, China and Russia. Nevertheless, the CLI tentatively indicates a positive turning point in India, suggesting a return to faster growth,” the Organisation for Economic Co-operation and Development (OECD) said.
India has grown below 5 per cent in each of the two previous financial years mainly because of the global slowdown coupled with domestic economic sluggishness.
In the current financial year ending March 2015, the Reserve Bank of India expects the economy to pick up and grow at over 5.5 per cent.
Moreover, the formation of a new government with a sufficient majority has revived investor sentiment, which is reflected in the stock market surge and strengthening of the domestic currency.
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