Summary

Describes the OECD's conclusions concerning the main economic challenges faced by India.

Description

Published: OECD, 9 October 2007

Indian market-based reforms since the 1980s have helped reduce poverty and average incomes are expected to double within the next decade. Economic growth is currently running at a sustainable eight percent a year. India is now the world's third largest economy behind the US and China when measured in terms of real prices and purchasing power.

The OECD survey finds that India's success over the past two decades is largely the result of reforms that give a greater role to the private sector while reducing the presence of the state in economic affairs. The survey also points to a number of areas where India's economy could benefit from further reforms including improving the business environment; infrastructure; public finances and labour market reform.

See policy brief on economic survey [PDF 170KB]

Access the full report on the OECD website

AusAID provided support to the OECD to undertake the first Economic Survey of India.

The findings, interpretations and conclusions expressed in the report are those of the authors and do not necessarily reflect the views of AusAID or the Australian Government.