New Delhi: Global investment bank Goldman Sachs (GS) has turned bullish on India, upgrading its rating on Indian equities to “Overweight” and setting a Nifty target of 29,000 by end-2026, implying a potential 14 per cent upside from current levels.

In its latest report titled “Leaning In as Growth Revives; Raising India back to Overweight”, the global investment bank said it expects a revival in India’s growth momentum, driven by supportive monetary and fiscal policies, an earnings rebound, and renewed foreign investor interest.

The bank’s October 2024 downgrade, which was based on stretched valuations and a slowdown in earnings, has been reversed by the upgrade.

According to the report, due to significant $30 billion outflows from foreign portfolios, Indian equities have underperforme

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