India's GDP To Clock 6.6% Growth In 2020-2024: OECD

On Saturday, the Organisation for Economic Co-operation and Development (OECD) said that India could record GDP growth at the rate of 6.6% between 2020-24.

India's GDP To Clock 6.6% Growth In 2020-2024: OECD

OECD in its Economic Outlook for Southeast Asia, China and India 2020 presented at the Association of Southeast Asian Nations (ASEAN) summit in Bangkok said, "India is also anticipated to grow relatively more modestly in 2020-24 than in 2013-17 while the banking sector regains its footing".

The large-sized workforce from the unorganized sector highlights the fact that there is still scope for augmenting the consumption base. For 2020-2024, OECD anticipates a regional GDP growth of 5.7% in contrast to 6.7% in between 2013-17.

"Sustaining efforts to prop up the health of the banking sector is a vital challenge, while bridging the disparity in urban and rural infrastructure is important for spreading investment and economic opportunities while addressing urbanisation," it said.

Further in accordance with the report, China would need to make up for the supply deficit in IT talent while imparting digital literacy and providing increased access to digital devices is crucial when we talk about India.

Also, as the global economic outlook is gloomy and amid ongoing US-China trade woes, prospect of exports seem uncertain.

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