Goldman Sachs Chief Executive Officer David Solomon has said that India now has a very high growth trajectory, with a predicted growth of 6-7 percent over the next three years.
In an interview on June 28, Solomon said that global CEOs are thinking about India as a big growth opportunity while recognising some of the challenges with investing in the country. Over the period of a year, the global economy, and the United States in particular, have been ‘more resilient’ than he would have expected, adding that there could be a period with 0-1 percent growth and 4 percent inflation.
The Goldman Sachs CEO added that there are significant macro signs to indicate slowing growth in the world, and it was hard to see a scenario where US inflation goes back to 2 percent anytime. Soloman pointed at important macro trends that are inflationary, including geopolitics, energy transition and supply chain adjustments.
On the US regional banking crisis that came after Silicon Valley Bank’s collapse in March this year, Solomon said the crisis was short term, with a handful of banks with very specific business models affected.