OECD Delegation, led by Chief Economist Laurence Boone, in India

New Delhi, 5 December 2019

The Ambassador of France in India, H.E. Mr Emmanuel Lenain, today hosted a reception for a delegation from the Organisation for Economic Cooperation and Development (OECD). Headed by its Chief Economist, Ms Laurence Boone, the OECD group was in India for the publication of the 2019 OECD Economic Survey of India.

The reception at the Residence of France was attended by Indian authorities, economists as well as members of the diplomatic corps and international organisations.

Address of H.E. Emmanuel Lenain, Ambassador of France to India

Madam Laurence BOONE, Chief Economist of the OECD, dear Laurence,
Mr. Andreas Schaal, Director - Global Relations, OECD Secretariat;
Madam Isabelle JOUMARD, Head of the India and Tunisia Desk, OECD Economics Department;
Delegates from the OECD;
Official Representatives of India;
Dear Colleagues of the diplomatic corps,
Ladies and Gentlemen.

It is a great pleasure for me to have you all here today at the Residence of France in New Delhi on the official publication of the 2019 OECD Economic Survey of India.

As you know, the mission of the Organisation for Economic Cooperation and Development is to promote policies for improving the economic and social well-being of people around the world.

To do so, it provides a forum for governments to share experiences and seek solutions to common problems. The Organisation works to understand what drives economic, social and environmental change, and sets international standards in a wide range of policy areas.

In this regard, I would like to underline the impressive work that has been done by the OECD under the leadership of its Secretary-General Angel GURRIA, particularly towards seeking inclusive growth, as it is this dimension of inclusiveness that is so important everywhere, especially in emerging countries.

Today’s mission is more specifically related to the comprehensive Survey of the Indian Economy, which was produced by the OECD Economics Department.

My understanding is that this new Economic Survey of India is the result of fruitful cooperation with the Indian Ministry of Finance, as well as the Reserve Bank of India.

Valuable inputs have also been provided by various other ministries of the Government of India, as well as public, private and academic organizations.

The document that has been prepared and is available today is also the result of a very lively debate held on the 7th of October in Paris, under the umbrella of the Economic and Development Review Committee.

Brazil and France were the examining countries. They focused on the housing sector and India’s increasing participation in the global economy.

Without entering into great details, the Paris meeting was an excellent opportunity to discuss many pertinent topics such as the fiscal and monetary policies, the financial sector, fight against corruption, productivity and business climate, social challenges and green growth.

The dynamism and resilience of the Indian economy was underlined, but it, nevertheless, faces many fiscal, as well as social and environmental challenges.

The key roles of ambitious structural reforms – such as better targeted household support, financial inclusion initiatives, the implementation of the Goods and Services Tax, the Insolvency and Bankruptcy Code and the new approach to federalism as well as the corporate income tax reform – were also recognized.

Since then, the Economics Department, OECD staff, and Indian authorities have closely cooperated with each other to finalize the report that has been officially published today.

It is thus an immense pleasure for me to give the floor without any further delay, to the leaders of the OECD team, which is here with us today.

First Laurence will say a few words about the global economic outlook as well as that of India’s. Then Madam Joumard will elaborate on the key messages that can be drawn from the Survey. And then M. Schaal will conclude with the India-OECD relationship.

These three short presentations will be followed by a Q and A session, during which I would invite your proactive participation, perhaps suggesting themes that could be the core topics for the next OECD Economic Survey.

Thank you.

Madam Boone, dear Laurence, the floor is yours.