Goldman Sachs revises India’s FY21 GDP target to -10.3% on vaccine progress
4 years, 1 month ago

Goldman Sachs revises India’s FY21 GDP target to -10.3% on vaccine progress

Live Mint  

Goldman Sachs on Tuesday revised India’s FY21 GDP target to 10.3% contraction as against earlier forecast of 14.8% contraction. However, the pace of the rebound will be restrained by some "economic scarring", and a number of factors like a weak labour market, the hit to private sector incomes and balance sheets, tighter credit supply conditions and a limited impetus from fiscal policy, it said. Headline inflation is likely to decline towards the mid-point of the RBI's target band of 2-6 per cent by mid-2021 as food prices fall on easing supply restrictions, a benign monsoon and favourable base effects, it said. This will result in the RBI's Monetary Policy Committee cutting rates by 0.35 per cent next year, it said, adding that the panel with three new members has a dovish tilt.

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Indian economy to grow nearly 6.5% in FY25 amid global triggers, GDP to bounce back in second-half: FinMin report
2 weeks, 1 day ago

Indian economy to grow nearly 6.5% in FY25 amid global triggers, GDP to bounce back in second-half: FinMin report

Live Mint  

India GDP growth: The Indian economy is expected to grow nearly 6.5 per cent in the current fiscal year 2024-25, closer to the lower end of the 6.5-7 per cent projection, against 8.2 per cent a year before, due to global uncertainties and triggers posing a dampening threat. The Finance Ministry expects a gross domestic product growth of 6.5 per …

Q2 GDP slowdown: What it means for stock market investors
1 month, 1 week ago

Q2 GDP slowdown: What it means for stock market investors

India Today  

India’s economy hit a speed bump in Q2 FY25, with GDP growth slowing to 5.4%—the weakest in seven quarters. For stock market investors already navigating weak corporate earnings and persistent foreign outflows, this slowdown adds to the challenges on Dalal Street. Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, "The Q2 GDP shocker of 5.4% will weigh on …

Stock market strategy: Goldman Sachs sets 12-month Nifty 50 target at 27,000; overweight on autos, telecom, insurance
1 month, 2 weeks ago

Stock market strategy: Goldman Sachs sets 12-month Nifty 50 target at 27,000; overweight on autos, telecom, insurance

Live Mint  

Indian equities are expected to remain resilient to global macroeconomic challenges such as a stronger US dollar, shallower easing in emerging markets, and potential US tariff hikes on China, according to Goldman Sachs’ latest report. Goldman Sachs projects India’s GDP growth to decelerate to 6.3% year-on-year in 2025, citing fiscal constraints and subdued credit growth. Stock Market Outlook Goldman Sachs …

Goldman Sachs cuts India’s 2024 and 2025 GDP growth forecasts
4 months, 2 weeks ago

Goldman Sachs cuts India’s 2024 and 2025 GDP growth forecasts

Hindustan Times  

Goldman Sachs Group Inc. has lowered India’s growth forecast by 20 basis points each for this year and the next, citing a contraction in central government expenditure. India’s growth next year will be hampered by the government’s commitment in the budget to bring down the fiscal deficit to below 4.5% of gross domestic product. Expansion will also face headwinds from …

Goldman Sachs predicts this ‘favourable scenario’ for Indian economy by 2030
8 months, 1 week ago

Goldman Sachs predicts this ‘favourable scenario’ for Indian economy by 2030

Hindustan Times  

India's services exports are likely climb to $900 billion- about 12.4 percent of its GDP, by 2030- Goldman Sachs said in what it called a "favourable scenario" of the economy. "India has been gaining share in professional consulting globally, which is relatively less concentrated than other sectors, and India has scope of gaining further share with the rise of GCCs," …

Tale of two halves: Goldman sees GDP powered by govt, private sector
1 year, 1 month ago

Tale of two halves: Goldman sees GDP powered by govt, private sector

Live Mint  

Investment bank and financial services major Goldman Sachs predicted a higher 6.5% growth in gross domestic product in FY25, compared to a more sedate 6.2% in FY24. In calendar year 2024, economic growth “is likely to be a tale of two halves", Goldman Sachs said in a report released on Monday, titled India 2024 Outlook. According to Goldman Sachs, risks …

India's Q4 GDP Grows At 4.1%, Growth in FY22 Improves To 8.7%
2 years, 7 months ago

India's Q4 GDP Grows At 4.1%, Growth in FY22 Improves To 8.7%

News 18  

India’s gross domestic product grew 4.1 per cent in the fourth quarter of the financial year 2021-22. For the full financial year 2021-22, the GDP saw a growth of 8.7 per cent. The GDP growth of 8.7 per cent in 2021-22 is significantly better than last year’s 6.6 per cent contraction and points towards a recovery from the pandemic-driven slowdown. …

Manufacturing in India Sees 210% Jump in FY22; Private Investment Picks Up: Goldman Sachs
2 years, 8 months ago

Manufacturing in India Sees 210% Jump in FY22; Private Investment Picks Up: Goldman Sachs

News 18  

New investments and ordering activities have seen a sharp pick-up in the financial year 2021-22, and the manufacturing sector, which has lagged for multiple years, saw a jump of 210 per cent, compared with the previous financial year 2020-21. The sector witnessed a 460 per cent jump in 2021-22 as against 2019-20, according to a report by Goldman Sachs. “Contract …

India's GDP Expected To Grow At 9.2 Per Cent in FY22: Govt
3 years ago

India's GDP Expected To Grow At 9.2 Per Cent in FY22: Govt

ABP News  

New Delhi: India’s GDP estimated to grow at 9.2 per cent in FY22, as against a contraction of 7.3 per cent in the previous fiscal, mainly due to improvement in the performance of agriculture and manufacturing sectors, the National Statistical Office said on Friday. The NSO, after releasing the first advance estimates of National Income for 2021-22, said, “The growth …

India's real GDP likely to maintain 9% growth rate in FY2022, FY2023 amid Omircon threat: Icra
3 years ago

India's real GDP likely to maintain 9% growth rate in FY2022, FY2023 amid Omircon threat: Icra

Firstpost  

The rating agency believes that rising consumption will push capacity utilisation above the crucial threshold of 75% by the end of 2022 Mumbai: The country’s real gross domestic product is likely to maintain a 9 percent growth rate in fiscal 2022 and 2023, amid concerns over the Omicron variant of COVID-19, says a report. Looking ahead, we expect the economy …

Amid COVID-19 case surge, leading brokerages downgrade India’s GDP forecast for FY22
3 years, 8 months ago

Amid COVID-19 case surge, leading brokerages downgrade India’s GDP forecast for FY22

Firstpost  

New Delhi: With the resurgence of COVID-19 cases posing risks to economic recovery, leading brokerages have downgraded India’s GDP growth projections for the current fiscal year to as low as 10 percent on local lockdowns threatening fragile recovery. “Even as these measures are likely to dampen economic activity, we think the impact will be much lower than in 2020, as …

Covid-19 Second Wave: Goldman Sachs Lowers Growth Forecast, Nifty Target
3 years, 8 months ago

Covid-19 Second Wave: Goldman Sachs Lowers Growth Forecast, Nifty Target

News 18  

Wall Street brokerage Goldman Sachs has flagged a slew of concerns on the surging COVID-19 caseload that has been hitting new records everyday, coupled with the rising lockdowns, forcing it to downgrade India's GDP growth forecast for the full year to 10.5 per cent from 10.9 per cent, apart from pegging down stock indices valuation and earnings. It revised down …

FY22 growth estimate of 10.5% need not be revised: RBI Governor
3 years, 9 months ago

FY22 growth estimate of 10.5% need not be revised: RBI Governor

India TV News  

Showing confidence on India economic recovery, Reserve Bank of India Governor Shaktikanta Das said that the growth projection of 10.5 per cent for the next financial year would not have to be revised given the strong economic recovery of the country. Speaking at the India Economic Conclave, Das said that now the world knows the dangers of the Covid-19 pandemic …

India within striking distance of attaining positive growth: RBI
3 years, 11 months ago

India within striking distance of attaining positive growth: RBI

India TV News  

India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter "V" in the V-shaped recovery stands for vaccine. "If successful, it will tilt the balance of risks upwards," said the authors who among others include RBI Deputy Governor Michael Debabrata Patra. The article further said: "Recent shifts in the macroeconomic landscape …

India Within Striking Distance of Attaining Positive Growth: RBI
3 years, 11 months ago

India Within Striking Distance of Attaining Positive Growth: RBI

News 18  

India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter "V" in the V-shaped recovery stands for vaccine. "If successful, it will tilt the balance of risks upwards," said the authors who among others include RBI Deputy Governor Michael Debabrata Patra. The article further said: "Recent shifts in the macroeconomic landscape …

India's Real GDP to Grow at 11% in FY22 Due to Faster Economy Recovery: Report
3 years, 11 months ago

India's Real GDP to Grow at 11% in FY22 Due to Faster Economy Recovery: Report

News 18  

The country’s real gross domestic product is likely to expand by 11 per cent in the next financial year due to a faster economic recovery and on a low base, says a report. The report by domestic rating agency Brickwork Ratings said economic activities are slowly reaching pre-COVID levels following the relaxation of the lockdown, except in sectors that remain …

Indian economy heading towards V-shaped recovery in 2021: Assocham
4 years ago

Indian economy heading towards V-shaped recovery in 2021: Assocham

The Hindu  

India's economy is showing decisive signs of a 'V-shaped' recovery in 2021 with the return of consumer confidence, robust financial markets, an uptick in manufacturing and exporters braving it out in the global market with never-say-die spirit, Assocham said on Sunday. "The high-frequency data is a strong pointer to a V-shaped recovery in 2021 with the seeds bursting into green …

Approval of Vaccine Lends Strength to Optimism, India Witnessing V-shaped Recovery: FinMin Report
4 years ago

Approval of Vaccine Lends Strength to Optimism, India Witnessing V-shaped Recovery: FinMin Report

News 18  

Approval of the long-awaited COVID-19 vaccine provides strength to the optimism on health and economic fronts, the Finance Ministry said in its monthly economic report. “The effective management of COVID-19 spread despite the festive season and onset of the winter season, combined with sustained improvement in high-frequency indicators and V-shaped recovery along with easing of lockdown restrictions distinguish Indian economy …

RBI’s Das says India’s economic recovery stronger than expected
4 years, 1 month ago

RBI’s Das says India’s economic recovery stronger than expected

Live Mint  

Mumbai: Reserve Bank of India Governor Shaktikanta Das on Thursday said the Indian economy has seen stronger-than-expected pickup in recovery after the sharp contraction in the first quarter. Even as the growth outlook has improved, downside risks to growth continue due to recent surge in infections in advanced economies and parts of India,” the governor said while speaking at a …

Goldman Sachs upgrades Indian equities to overweight; sees 11% upside to Nifty
4 years, 1 month ago

Goldman Sachs upgrades Indian equities to overweight; sees 11% upside to Nifty

Live Mint  

MUMBAI: Goldman Sachs has raised Indian equities to overweight on hopes that earnings recovery will lead rally. As the economy recovers from the pandemic-induced contraction, Goldman Sachs expects corporate profits to rebound 27% next year and a further 21% in 2022, after an expected decline of 11% year-on-year this year. As domestic macro recovery is picking up, Goldman Sachs economists …

Goldman Sachs Pegs India's GDP Growth Forecast at 10% for 2021, Highest Among Major Global Economies
4 years, 1 month ago

Goldman Sachs Pegs India's GDP Growth Forecast at 10% for 2021, Highest Among Major Global Economies

News 18  

Investment bank Goldman Sachs, its global economic analysis report ‘V-Shaped Recovery’, reiterated its projections for India’s gross domestic product growth for 2021 and 2022 to be 10 per cent and 7.3 per cent respectively. The investment major’s growth forecast for India is the highest among major economies around the world. In September, the lender had forecast India’s GDP growth for …

Covid-19 may leave 'permanent scar' on India's growth, show agency outlooks on GDP
4 years, 3 months ago

Covid-19 may leave 'permanent scar' on India's growth, show agency outlooks on GDP

India Today  

The coronavirus pandemic and the strict nationwide lockdown has resulted in economic devastation beyond comprehension in India. While Goldman Sachs projected India’s GDP for the year to contract 14.8 per cent, Fitch Ratings said it would contract 10.5 per cent. Fitch Ratings, too, sharply downgraded its projections for India’s economic growth to -10.5 per cent — double of the five …

Fitch Puts India GDP Contraction in FY21 at 10.5% before Bouncing Back Next Fiscal
4 years, 4 months ago

Fitch Puts India GDP Contraction in FY21 at 10.5% before Bouncing Back Next Fiscal

News 18  

India's economy is expected to contract 10.5 per cent in the current fiscal before bouncing back in the next financial year, Fitch Ratings said on Tuesday. Separately, India Ratings and Research, the domestic arm of rating agency Fitch, projected an 11.8 per cent contraction in the Indian economy in FY21, as against its previous projection of 5.3 per cent contraction …

Indian Economy to Contract 10.5 Pc in FY21; Covid-19 Spread Disrupting Eco Activity: Fitch
4 years, 4 months ago

Indian Economy to Contract 10.5 Pc in FY21; Covid-19 Spread Disrupting Eco Activity: Fitch

News 18  

Fitch Ratings on Tuesday slashed India's FY21 growth projection to 10.5 per cent, from 5 per cent estimated earlier, saying the continued spread of the virus and imposition of sporadic shutdowns across the country has disrupted economic activity. Fitch said India recorded one of the sharpest GDP contractions in the world in the April-June quarter, but noted that growth should …

India’s GDP Growth For FY21 Will Remain In Negative, Says RBI Governor Das
4 years, 7 months ago

India’s GDP Growth For FY21 Will Remain In Negative, Says RBI Governor Das

ABP News  

New Delhi: Reserve Bank of India Governor Shaktikanta Das announced that the GDP growth of India for the year 2020-21 may remain in the negative. During his live conference today, Das shared observations of the global and domestic market that have been severely impacted by the coronavirus pandemic and lockdown. In the domestic market economic activity has been hit by …

Coronavirus impact: Barclays pegs India's current account surplus at $20 bn this fiscal, first-time in 14 years
4 years, 7 months ago

Coronavirus impact: Barclays pegs India's current account surplus at $20 bn this fiscal, first-time in 14 years

Firstpost  

As imports continue to plunge due to the coronavirus-driven disruptions globally, India may end the current fiscal with a record surplus of about $20 billion or 70 bps of the GDP, says a report Mumbai: As imports continue to plunge due to the coronavirus-driven disruptions globally, India may end the current fiscal with a record surplus of about $20 billion …

Coronavirus Lockdown: Indian economy to contract 5% in FY21, worst-ever performance by country, says Goldman Sachs
4 years, 7 months ago

Coronavirus Lockdown: Indian economy to contract 5% in FY21, worst-ever performance by country, says Goldman Sachs

Firstpost  

American brokerage Goldman Sachs expects the Indian economy to contract by 5 percent in FY21, making it the worst performance by the country ever Mumbai: American brokerage Goldman Sachs expects the Indian economy to contract by 5 percent in FY21, making it the worst performance by the country ever. A slew of watchers are expecting a contraction in the Indian …

India's GDP to shrink 45% in June quarter, predicts Goldman Sachs
4 years, 7 months ago

India's GDP to shrink 45% in June quarter, predicts Goldman Sachs

India Today  

The government’s effort to provide a boost to the coronavirus-hit economy focuses on more on the medium-term rather than offering immediate support, according to a recent note by Goldman Sachs economists. In a May 17 note, Goldman Sachs economists Prachi Mishra and Andrew Tilton predicted that India’s Gross Domestic Product will contract by an annualised 45 per cent in the …

Today's top business news: Govt advisor rules out big economic stimulus, ex-RBI governor says India can't take markets for granted, traders smell back-door funding of govt debt by RBI, and more
4 years, 8 months ago

Today's top business news: Govt advisor rules out big economic stimulus, ex-RBI governor says India can't take markets for granted, traders smell back-door funding of govt debt by RBI, and more

The Hindu  

Stocks have opened positive this morning and signals coming from the government suggest a significant easing of lockdown restrictions soon. PTI reports: "Real estate developers sold 26 per cent less apartments during January-March period across nine major cities as economic slowdown and coronavirus outbreak affected demand, News Corp-backed PropTiger said. Vodafone Group, in a statement, said it has “accelerated this …

World Bank sees FY21 India growth at 1.5-2.8%, slowest since economic reforms 30 years ago
4 years, 8 months ago

World Bank sees FY21 India growth at 1.5-2.8%, slowest since economic reforms 30 years ago

The Hindu  

India is likely to record its worst growth performance since the 1991 liberalisation this fiscal year as the coronavirus outbreak severely disrupts the economy, the World Bank said on Sunday. India’s economy is expected to grow 1.5% to 2.8% in the 2020-21 fiscal which started on April 1, the World Bank said in its South Asia Economic Focus report. “The …

India’s GDP growth may plummet to multi-decade low of 1.6% in FY21: Goldman Sachs
4 years, 9 months ago

India’s GDP growth may plummet to multi-decade low of 1.6% in FY21: Goldman Sachs

India TV News  

Indian policymakers have not been aggressive enough in their response till now to the crisis, and will need to eventually intensify their efforts, economists at Goldman Sachs said. Economic growth is likely to plummet to a multi-decade low of 1.6% in fiscal year 2020-21 due to COVID-19 pandemic and ensuing measures like lockdowns and social distancing, an American brokerage said …

Coronavirus Outbreak: GDP likely contract by 4.5% in Apr-Jun quarter; will grow by just 2% in 2020-21, says ICRA
4 years, 9 months ago

Coronavirus Outbreak: GDP likely contract by 4.5% in Apr-Jun quarter; will grow by just 2% in 2020-21, says ICRA

Firstpost  

Despite the Reserve Bank of India’s massive actions to spur the economy, India’s gross domestic product is likely to contract by 4.5 percent in the April-June 2020 quarter and will rise by only 2 percent in 2020-21 on the coronavirus impact, according to domestic rating agency ICRA Mumbai: Despite the Reserve Bank of India’s massive actions to spur the economy, …

GDP to grow by 5.5% in FY21 on demand revival, strong policy push but downside risks persist: India Ratings
4 years, 11 months ago

GDP to grow by 5.5% in FY21 on demand revival, strong policy push but downside risks persist: India Ratings

Firstpost  

New Delhi: India’s growth rate is expected to be marginally higher at 5.5 percent in 2020-21 against the estimated 5 percent for the current fiscal on the back of strong policy push coupled with a revival in demand, a report said. “A strong policy push coupled with some heavy lifting by the government is required to revive the domestic demand …

GDP growth may accelerate to 7.2% in FY20 on lower oil prices, political stability: Report
5 years, 7 months ago

GDP growth may accelerate to 7.2% in FY20 on lower oil prices, political stability: Report

Firstpost  

n a report that came a day after the policy review by RBI, in which key rates were cut 0.25% to spur growth, the brokerage said it expects an acceleration in GDP to 7.2%. Mumbai: American brokerage Goldman Sachs on Friday pegged the Indian GDP growth to accelerate to 7.2 percent in 2019-20 on lower oil prices, political stability and …

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