About OECD (Organisation for Economic Co-operation and Development):
- It is an international organization established with the aim of fostering economic growth and development among member countries.
- It succeeded the Organisation for European Economic Co-operation (OEEC), which focused on distributing Marshall Plan aid post-World War II.
- The convention establishing the OECD was signed on Dec. 14, 1960, by 18 European countries, the United States, and Canada and went into effect on Sept. 30, 1961.
- OECD members are typically democratic countries that support free-market economies.
- Current Members: 38 countries.
- Headquarters: Paris, France.
- The stated goal of the OECD is to shape policies that foster prosperity, equality, opportunity and well-being for all.
- The organization's activities encompass a wide range of areas, including trade, industry, agriculture, and environmental protection, with a focus on sustainable development.
- The governance structure consists of the OECD Council, the OECD Secretariat, and numerous committees that address specific topics such as public governance and climate change.
- Lacking the power to enforce its decisions, the OECD is essentially a consultative assembly that pursues its program through moral suasion, conferences, seminars, and numerous publications.
- The OECD publishes economic reports, statistical databases, analyses, and forecasts on the outlook for economic growth worldwide.
- Major Reports Published by the OECD:
- OECD Economic Outlook
- PISA (Programme for International Student Assessment)
- Health at a Glance
- Country Peer Review Reports
- The organization also seeks to eliminate bribery and other financial crime
- The OECD maintains a so-called “black list” of nations that are considered uncooperative tax havens.
- India and OECD:
- India is one of the many non-member economies with which the OECD has working relationships in addition to its member countries.
- India has been an OECD Key Partner since 2007.
