BANGALORE:Indian economy saw the "strongest growth" in the first quarter of 2015 among large economies, including China, the U.S., Germany and Canada, according to Paris-based think tank OECD.
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 percent during the January-March period. In the 2014 December quarter, the region had seen an overall expansion of 0.8 percent.
"India recorded the strongest growth in the first quarter of 2015 (2.1 percent, up from 1.4 percent in the previous quarter)," it said in a statement.
OECD's quarterly GDP numbers for G-20 countries have been calculated based on a new methodology.
As per the grouping, Canadian, American and Brazilian economies contracted in the first three months of this year.
"Among G20 economies, GDP contracted in Canada (by 0.1 percent), the U.S. (by 0.2 percent), and Brazil (by 0.2 percent), following positive growth of 0.6 percent, 0.5 percent and 0.3 percent, respectively, in the previous quarter," the statement said.
Growth rate fell in South Africa to 0.3 percent and in Mexico to 0.4 percent in first quarter. Similarly in Germany and the UK, economic expansion declined to 0.3 percent.
"In China and Indonesia, GDP growth slowed slightly (to 1.3 percent and 1.1 percent, respectively, compared with 1.5 percent and 1.2 percent, respectively, in the previous quarter)," the statement said.
Apart from India, economic growth rose in Turkey, Japan, Australia and Korea.
"GDP growth also accelerated in Turkey (to 1.3 percent, compared with 0.8 percent in the previous quarter), in Japan and Korea (to 1 percent and 0.8 percent, respectively, compared with 0.3 percent), and in Australia (to 0.9 percent, compared with 0.5 percent).
"Within the European group of G20 economies, economic growth accelerated in France and Italy (to 0.6 percent and 0.3 percent, respectively)," the statement said.
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