India likely to see weak economic growth, says OECD

India's CLI declined to 97.6 in February from 97.7 registered in January.

CLI for India has been on the decline since November last year when it stood at 97.9. In December last, it had slipped to 97.8.

Last week, the Reserve Bank of India (RBI) projected the an economic growth rate of grow less than 5 per cent in (2013-14).

"Real GDP growth is projected to pick up from a little below 5 per cent in 2013-14 to a range of 5-6 per cent in 2014-15 albeit with downside risks to the central estimate of 5.5 per cent," the central bank had said.

Meanwhile, OECD said that CLIs for the 33-member grouping as well as the United States and Canada indicate growth remaining around trend.

"CLIs point to growth returning to trend in Japan above trend in the United Kingdom... In the Euro Area as a whole, and in Italy, CLIs continue to indicate a positive change in momentum," the grouping said in a statement.

In Germany, growth is expected to be above trend while for France the CLI points to stable growth momentum, it added.