India's GDP forecasted to grow 9.1% in 2022
The company said it expects consumption and investment to be an important contributor to growth in 2022 as the economy fully reopens, driven by a notable improvement in the virus situation and adequate progress on vaccination.
It also expects government capital spending to continue, seeing nascent signs of a private corporate capital expenditure recovery and a revival in housing investment.
After India's economy contracted by a sharp 7 percent in 2020, Goldman Sachs pegged the economy to grow at 8 percent in 2021 and 9.1 percent in 2022.
It also forecasts the headline CPI inflation to increase to 5.8 percent in 2022 from 5.2 percent in 2021, led by an increase in core inflation as manufacturers pass on input cost increases to consumers as demand recovers with full economic re-opening. The cumulative 75 basis points of repo rate is expected to increase in 2022.
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