India likely to grow by 8.2 pc in next fiscal: Goldman Sachs | business | Hindustan Times
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India likely to grow by 8.2 pc in next fiscal: Goldman Sachs

business Updated: Jan 15, 2010 22:01 IST

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The Indian economy is likely to grow by 8.2 per cent in the next fiscal due to rising investment demand and global recovery, according to financial services firm Goldman Sachs.

"The Indian economy is likely to accelerate in 2010 after the slowdown in the past two years. We think growth for FY'11 will be at 8.2 per cent driven by rising investment demand and a recovery in the global economy," it said in a report.

India registered a growth of 6.1 per cent and 7.9 per cent in the first and second quarters of the current fiscal.

Finance Minister Pranab Mukherjee has pegged India's economic growth at 7.75 per cent for 2009-10.

It further said the urban organised retail, fiscal reforms, infrastructure and exports would provide good investment opportunities.

"As a leveraged play on economic growth and rising consumer demand, we think organised retail in urban India will be a key growth area in 2010," Goldman Sachs said.

It added that disinvestment of government stakes in large state-owned enterprises (SOEs) will be an important theme for Indian equity markets in 2010.

"2010 promises to be the key year with stake sales expected in some of the largest companies in India, including, SAIL, MMTC, NTPC and NMDC," Goldman Sachs said.

It added that NTPC and NMDC alone are expected to bring in USD 5.5 billion (around Rs 25,000 crore) combined over the first three months of the year.