India to win only one gold at Rio olympics 2016?

All eyes are on Rio de Janeiro as the Olympics are set to begin on Friday, August 5. But according to a report, India is going to return with only one gold medal.

According to multinational banking and investment firm Goldman Sachs report, India is set to return with 8 medals in total, two more than the last Olympics. The leading firm, as reported by Hindustan Times, predicts medal haul in relation to the economic strength of the country. 

The report further says that the US will lead the medal tally at 106, followed by China at 89. If India clinches that one gold, it would stand at 50th ranking. The first five rankings predicted by the firm are as follows -

1. US - 106 medals, 45 golds
2. China - 89 medals, 36 golds
3. UK - 59 medals, 23 golds
4. Russia - 58 medals, 14 golds (despite doping bans)
5. S. Korea - 28 medals, 13 golds

The predictions, published in The Olympics and Economics 2016: Modeling Medal Success in Rio, have been reached upon by Goldman Sachs’ proprietary Growth Environment Score (GES). Economic, political and institutional environment of various countries, the growth processes along with performances are all taken into consideration to come to an understanding of long term potential of the respective country.