Organisation for Economic Co-operation and Development

Recently, the OECD projected that India’s economy is expected to grow at 6.1% in 2026–27. This projection highlights India’s strong economic resilience and positions it among the fastest-growing major economies in the world.

Establishment

The OECD was established on December 14, 1960, by 18 European countries along with the United States and Canada. It was created to promote economic cooperation and development across nations.

Members

The OECD currently consists of 38 member countries. These members are typically democratic nations that support free-market economies and work together on policy coordination.

Objectives

The main objective of the OECD is to shape policies that foster prosperity, equality, opportunity, and well-being for all. It aims to improve economic and social conditions worldwide.

Functions

The OECD performs several important functions:

• It publishes economic reports, statistical databases, analyses, and global growth forecasts.

• It works to combat bribery, corruption, and financial crimes.

• It also maintains a list of non-cooperative tax havens to promote transparency in global finance.

India and OECD

India is not a member of the OECD but maintains close engagement with the organisation. It has been a Key Partner since 2007 and participates in various OECD initiatives and policy discussions.

Headquarters

The OECD is headquartered in Paris.