In its report titled 'The Olympics and Economics' Goldman Sachs has predicted the number of medals and their colour each country will win at the sporting extravaganza, starting on August 5.
The predicted medal tally for India is two more than what it achieved at the 2012 London Olympics.
In 2012, Goldman Sachs had predicted that India would clinch five medals including two golds. But the actual tally turned out to be six, comprising two silver and four bronze medals.
India's performance in London was best ever at Olympics and the nation hopes to better it's tally this time. India has also sent it's largest ever contingent, around 120 athletes participating in 15 disciplines, to the Olympics.
However, USA and China are set to top the medals tally bagging 106 and 89 medals, respectively. USA are tipped to win 45 golds followed by China, with their share of 36, predicted the report.