GDP Growth To Cross 7.5 Per Cent If Modi Government Accelerates Economic Reforms: Goldman Sachs CEO

The Goldman Sachs chief executive officer (CEO) David M Solomon on Sunday (2 June) said that the financial services company expects the Indian gross domestic product (GDP) growth rate under Prime Minister (PM) Narendra Modi to cross 7.5 per cent if the government accelerates the pace of reforms, reports Economic Times.

Solomon termed PM Modi's return to power with a massive mandate as a major confidence booster for the Golman Sachs, both as an investor and as an allocator of capital. He also stressed that if the reform programme accelerates, there can be considerable upside in the GDP growth on a forward basis.

Solomon also underscored that India is going to need significant amounts of capital, an area where his company can play a key role.

Further stressing on boosting digitisation in the economy and reforms, Solomon said, “If you think about the continuing digitisation of the economy in India, obviously that’s going to create many opportunities,”

The reforms process, if continued under the new government, will further accelerate foreign direct investment inflows, he said.