OECD sizes up India for the first time

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India OECD released its first economic survey of the world's third largest economy.

The report, which calls for a labor market and tax system reform, also recommends changes to improve infrastructure and education. The Doing Business report ranked India 120 among 178 countries on the overall ease of doing business.

According to OECD, India's target of reaching 10 percent annual GDP growth rate, from 7.5 currently, is achievable but contingent upon continued reforms.

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