India’s 2022 GDP growth prediction reduced by Goldman Sachs from 7.6% to 7%

India’s 2022 GDP growth prediction by Goldman Sachs: Following the quarterly gross domestic product figures for April through June falling short of market expectations, Goldman Sachs has revised lower its growth projections for India. A lower-than-expected growth during April to June increased the negative risk to current fiscal year growth predictions by 40 basis points.

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India’s 2022 GDP growth prediction by Goldman Sachs: Key Points

• In the reporting quarter, India’s real GDP growth increased 13.5% year over year, falling short of the 15.2% projection made by experts surveyed by Reuters.
• GDP growth momentum decreased to -3.3% quarter-on-quarter after increasing by 0.5% from January to March.
• The current fiscal year predictions decreased by 20 basis points from 7.2% and downgraded the full-year 2022 GDP growth forecast from 7.6% to 7%.
• Goldman Sachs 7.2% growth forecast for the fiscal year 2022–2023 is subject to a 40 basis point downside risk.

According to Upasana Chachra, economist for India at Morgan Stanley, the somewhat slower-than-expected increase in investments and the larger drag from net exports were factors in India’s GDP falling short of expectations.

India’s 2022 GDP growth prediction by Goldman Sachs: About Goldman Sachs

• The Goldman Sachs Group, Inc. is a prominent global investment banking, securities, and investment management company, offers a comprehensive range of financial services to a sizable and diversified clientele that consists of businesses, financial institutions, governments, and private individuals.
• It is widely acknowledged that Goldman Sachs is the market leader in investment banking.
• Goldman Sachs consistently comes out on top in numerous league tables and is the go-to resource for the biggest corporations in the world.

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