“The Indian economy is likely to accelerate in 2010 after the slowdown in the past two years. We think growth for fiscal year 2011 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.
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.
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