New Delhi, March 26 -- The worst phase of India's economic slowdown and earnings decline is likely over according to the global financial firm Goldman Sachs.

However, it expects market volatility to continue in the near term because of high domestic investment in small- and mid-cap stocks and global uncertainties, particularly from tariffs.

"The worst is likely behind us in terms of economic growth and earnings trajectory, and prices have corrected meaningfully," it said.

In a recent report, the firm maintained a "Market Weight" stance on India within the emerging markets (EM) category. It advised investors to focus on stocks with strong earnings visibility and quality growth.

The report highlighted that the NIFTY 50 index has correct...