Quick Read
Summary is AI generated, newsroom reviewed.
The OECD’s 2025 Economic Outlook Report predicts India’s GDP growth will lead G20 nations at 6.3% in 2025 and 6.4% in 2026. Amid global economic slowdowns, India aims for a $32 trillion economy by 2047, focusing on increased business ties with the EU.
The Organisation for Economic Cooperation and Development (OECD) on Tuesday released its 2025 Economic Outlook Report at a press conference held in its Paris headquarters.
The report estimates that India’s GDP growth (in real terms) will continue to be the highest amongst G20 nations in 2025 and 2026, touching 6.3% and 6.4% respectively. The report was released as delegations from member states and partners such as India assembled in Paris for an informal WTO Ministerial-level meeting.
“India is looking to become a 32 Trillion economy by 2047. This exponential growth will be possible because of our talent, and I’m here to reiterate people-to-people contact,” said Piyush Goyal, Union Minister for Commerce and Industry, while speaking at the India-France Business Conference. The Union Minister is in the French capital for the OECD Ministerial meet.
‘Our razor focus is to make it easier to do business in India,’ said Goyal as he reiterated the vast opportunities in India for those looking to do business and invest in the country.
However, global growth figures are not expected to witness a positive trend according to the OECD, which estimates that the global economy is on course to slow down from 3.3% last year to 2.9% in 2025 and 2026.
The Paris-based organisation’s estimates come at a time of global disruptions – tariff threats from the US under the Trump administration and geopolitical tensions in Eastern Europe and Middle-East.
“Additional increases in trade barriers or prolonged uncertainty will further lower growth prospects and likely push inflation higher in countries imposing tariffs,” said the OECD Secretary General Mathias Cormann as he presented the report.
Despite these global uncertainties, India’s economic forecasts look on track, and the country hopes to increase business with the European Union as well as France.
The European Union (EU), which consists of 27 nations, views the Free Trade Agreement (FTA) as important for strengthening economic ties with India. India and the EU are reaching for a comprehensive FTA instead of an interim deal. French minister of foreign trade Laurent Saint-Martin said that a deal can come through as early as “in the coming weeks and months”. “India is one of our priorities and I know the European Commission really wants to accelerate (FTA),” he added.
