Indian Economy Stands Out As OECD Observes Weakness In China, UK And US

| September 9 , 2015 , 10:02 IST
India's economic growth slowed to 7 per cent in the three months ended June compared to 7.5 per cent expansion recorded in the January-March quarter. [caption id="attachment_123009" align="aligncenter" width="700"]Indian economy is firming up Indian economy "firming up" against other major economies, says OECD report. (Photo: AP)[/caption] Notwithstanding market volatility, on Sunday, Finance Minister Arun Jaitley had said India's "real economy" will dictate both the currency valuation and the market. International Monetary Fund (IMF) Managing Director Christine Lagarde recently said that India is among the few bright spots in the global economy. Meanwhile, OECD said that growth momentum is expected to be stable in the euro area. "Growth momentum is anticipated to moderate in Canada as well as in the UK and the US, albeit from relatively high levels," the statement said.