Global investment banker Goldman Sachs today came under attack from government and the Congress over upgrading Indian markets on a likely Narendra Modi's election win but the US-based firm stood by its report.
In its justification, Goldman Sachs said the report was prepared on the basis of investor sentiments and does not reflect political bias.
Irked by the report, which suggested a victory of Modi-led BJP in the next year's general elections, Commerce and Industry Minister Anand Sharma said it is "most inappropriate and objectionable".
The 18-page report titled 'Modi-fying our View: Raise India to Marketweight' also described the BJP's Prime Ministerial candidate as more business-friendly.
Sharma retorted saying India's growth story is intact.
"We don't need these kinds of daily certification or assurances. We are a self confident nation ... We surely would not be entertaining prescriptive approaches or prescriptions from those who are totally disconnected....
"Do we tell other countries that what their voters should decide. Respect democracy and respect the country," he said.
