Global brokerage company Goldman Sachs has said that India is poised to be the among fastest growing economies till 2030.

        According to the New York based global brokerage company, India’s earnings have started to stablise over the past few years, with mid-teen profit growth momentum that might sustain until 2030, due to strong GDP growth and positive investor sentiment. The country aims continues to remain resilient amid global uncertainties.

        In a note the Goldman Sachs said, Nifty’s total earnings growth and market cap have both achieved an 18 percent compound annual growth rate (CAGR) over the past five years. As this evolves, the profit pool is likely to shift towards investment cyclicals, which includes autos, real estate, chemicals along with industrials, which could see the largest rise in profit share. Consumer cyclicals could see the highest absolute growth.

        Meanwhile, according to the Moody’s Analytics, the Indian economy is projected to grow faster at 7.1 percent this fiscal year (FY25). S&P Global Ratings has also retained India’s growth forecast at 6.8 per cent for the fiscal 2024-25.