Thursday, 4 December 2014

India GDP to Beat China by 2016: Goldman Sachs

Indian economy will grow at 6.3 per cent in 2015 and it could become the fastest growing emerging market by 2016-18, according to a top Goldman Sachs economist.

Tushar Poddar, India economist, Goldman Sachs said he expects India to become the fastest growing emerging market over 2016-18 overtaking China.

He said, “Improvement in governance and micro-conditions - especially the cost of doing business, rapid urbanization and higher capital spending could lead to higher growth rates.”

Poddar believes that balance sheets of the corporate sector and banks were a concern, which will come down as macros improve.
Goldman Sachs expects crude oil to climb up to $85 in 2015. Poddar said GDP the external environment will remain benign, and India's GDP should grow at 6.5% in FY16 and 7% in FY17.

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