icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Goldman Sachs sees India’s growth picking up in 2020

Goldman Sachs sees India’s growth picking up in 2020
The third-largest economy in Asia should rebound in 2020 as global conditions are set to improve, helping India's economic growth to pick up, according to US investment bank Goldman Sachs.

The bank’s chief economist and head of global economics and markets research Jan Hatzius said the extent of the recovery will likely be modest instead of returning India to the growth rates seen a few years back.

Also on rt.com India to push Japan out of world’s top 3 economies by 2025

“As we go into 2020, we think there’s a tentative sense of stabilization in the Indian economy,” Hatzius told CNBC.

In its report last week, Goldman projected India’s growth to fall to 5.1 percent this year from roughly seven percent annually in 2017 and 2018. The bank forecasts the country’s growth to pick up to 6.4 percent in 2020.

According to Hatzius, an improving global economy and domestic policies such as corporate tax cuts should help to lift economic activity in India. He also said that the country’s central bank, the Reserve Bank of India, “probably isn’t quite done” with easing monetary policy yet.

Also on rt.com India lifted 271 million people out of poverty between 2006 and 2016 – UN

“We’ll see how strong the rebound is. We did see a significant deceleration; will it be able to make that up in 2020 and 2021 to get back to the growth rates that we saw a couple years ago?”

Hatzius continued: “That may be a tall order, but incrementally we do think that growth probably picks up somewhat from here.”

For more stories on economy & finance visit RT's business section

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.