Goldman Sachs Predicts India’s Economic Growth will Slow Down in the Year 2023
Goldman Sachs Group Inc has cut its forecast for India’s economic growth next year. Goldman economists led by Andrew Tilton said in a report on Sunday that gross domestic product is expected to grow by 6.9 percent this year and 5.9 percent in 2023.
In two parts “Growth will be in two parts. The first half will be slower,” the report said. “Growth is likely to pick up again in the second half as global growth picks up and the drag from net exports eases,” he explained. India is one of the fastest growing major economies in the fiscal year ended March.
US Federal Reserve:
The US Federal Reserve explained that the US Federal Reserve is likely to raise interest rates, and price increases will become a challenge. He said that India’s growth is likely to pick up in the second half of 2023. Goldman analysts said the rupee was one of the best performing currencies in the region despite some depreciation against the US dollar. Inflation is also expected to come down to 6.1 percent in the next calendar year from 6.8 percent this year.