News > Goldman Sachs raises India FY21 GDP forecast to -10.3%

Goldman Sachs raises India FY21 GDP forecast to -10.3%

Goldman Sachs revised upwards its FY21 growth forecast for India to a 10.3% contraction, from -14.8% it had projected in September.

As announcements of effective vaccines begin to take hold of the global pandemic rhetoric, the investment bank projected India’s GDP to rebound to 13% in the next fiscal. The broad-based availability of an effective vaccine could allow containment policies and mobility to normalise by mid-2022 along with a meaningful activity rebound in 2021.