India Set To Become Third-Largest Economy By 2027: Morgan Stanley
NDTV
"Three megatrends--global offshoring, digitalisation, and energy transition--are setting the scene for unprecedented economic growth in the country of more than one billion people," Morgan Stanley said in a report.
Bolstered by investments it has made in technology and energy, India is set to surpass Japan and Germany to become the world's third-largest economy by 2027, Morgan Stanley has forecast. The Wall Street major further said that India will be home to the third-largest stock market in the world by 2030.
"Three megatrends--global offshoring, digitalisation, and energy transition--are setting the scene for unprecedented economic growth in the country of more than one billion people", Morgan Stanley said in a report.
Stating that India is gaining power in the world order, Ridham Desai, Morgan Stanley's Chief Equity Strategist for India, noted that "idiosyncratic changes" imply a once-in-a-generation shift and an opportunity for investors and companies.
"India's gross domestic product (GDP) could more than double from $3.5 trillion today to surpass $7.5 trillion by 2031. Its share of global exports could also double over that period, while the BSE could deliver 11 per cent annual growth, reaching a market capitalisation of $10 trillion in the coming decade," said the report titled 'India's Impending Economic Boom'.
