According to Paris-based think tank OECD, Indian economy saw the “strongest growth” in the first quarter of 2015 among large economies, including China, the US, Germany and Canada. Data compiled by the Organisation for Economic Cooperation and Development (OECD) showed that overall GDP growth in the G-20 area was slightly lower at 0.7 per cent during the January-March period. In the 2014 December quarter, the region had seen an overall expansion of 0.8 per cent. India recorded the strongest growth in the first quarter of 2015 (2.1 per cent, up from 1.4 per cent in the previous quarter).

As per the grouping, Canadian, American and Brazilian economies contracted in the first three months of this year. Apart from India, economic growth rose in Turkey, Japan, Australia and Korea. Within the European group of G20 economies, economic growth accelerated in France and Italy (to 0.6 per cent and 0.3 per cent, respectively).

In China and Indonesia, GDP growth slowed slightly (to 1.3 per cent and 1.1 per cent, respectively, compared with 1.5 per cent and 1.2 per cent, respectively, in the previous quarter.