India is heading for 'very high growth' but challenges remain, says Goldman Sachs CEO

India has a "very, precise precocious maturation trajectory," but bureaucratic challenges persist, CEO of Goldman Sachs David Solomon said successful an exclusive interrogation with the Economic Times.

Economists astatine the concern slope expect India's system to turn by 6% to 7% implicit the adjacent 3 years, Solomon said.

"It's particularly breathtaking arsenic businesses astir the satellite proceed to diversify proviso chains and deliberation otherwise astir wherever determination is maturation and wherever they tin bash business," helium told the Indian quality publication. "It's a fascinating clip to truly instrumentality banal of what's going connected here."

The CEO spoke astir deglobalization and what it means amid "U.S.-China decoupling," a word that refers to the dismantling of economical reliance betwixt the 2 rivals.

"A large woody has happened successful the satellite and I deliberation looking astatine India, radical spot opportunity. They spot it with a somewhat antithetic lens than they did backmost successful 2019," helium said. 

To beryllium clear, helium does not deliberation the U.S. and China are decoupling.

He said determination volition beryllium changes to the presumption of engagement going forward, "but that is antithetic from a implicit economical decoupling. In turn, it presents a precise absorbing accidental for India, but it's besides not without challenges."

Still, helium said that investing successful the state comes with its ain acceptable of challenges.

Global CEOs helium spoken to deliberation of India arsenic "a large maturation accidental portion besides recognising immoderate of the challenges of investing here."

"There's a large accidental present due to the fact that of the colonisation size and growth, but determination are challenges successful presumption of however definite parts of bureaucratic operation enactment and those are things I cognize CEOs ever deliberation astir and absorption connected erstwhile diversifying their proviso chains," Solomon said. 

Read much astir wherefore Goldman Sachs is bullish connected India successful the Economic Times.