NDTV reports: Global investment bank Goldman Sachs has downgraded India to "underweight" saying growth recovery remains elusive.

"Recent activity data in the second quarter of 2013 has been sluggish with no signs of a pick-up in investment demand... Against a backdrop of lower growth, tighter liquidity and rising macro vulnerabilities, we downgrade India to underweight," Goldman Sachs said in a statement.

Read the full report here