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Goldman upgrades India market rating to 'overweight'

IndiaTimes Monday, 13 November 2023
Goldman Sachs has upgraded India to the 'overweight' category due to the country's strong economic growth prospects driven by domestic demand and a steady flow of money into the market. The brokerage expects India's GDP to grow at 6.5% in 2023 and 6.3% in 2024. It also stated that India offers the most promising long-term growth opportunities in the region, with potential for mid-teens earnings growth. However, Goldman Sachs warned that near-term uncertainties, such as state and national elections, may increase market volatility.
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