India Will Become Third-Largest Economy By 2027: Morgan Stanley
NDTV
India will more than double its GDP (gross domestic product) from the current $3.4 trillion to $8.5 trillion over the next 10 years, Morgan Stanley's chief Asia economist Chetan Ahya wrote in Financial Times.
A shift in policy approach towards boosting investment, demographics advantages and the public digital infrastructure will make India the world's third-largest economy by 2027, Morgan Stanley has forecast.
It further stated that India's gross domestic product (GDP) will grow from the current $3.4 trillion to $8.5 trillion over the next 10 years.
"Incrementally, India will add more than $400 billion to its GDP every year, a scale that is only surpassed by the US and China," Morgan Stanley's chief Asia economist Chetan Ahya wrote in Financial Times.
A confluence of favourable domestic and global forces supports the projection, he said, while taking note of a shift in policy approach from redistribution to boosting investment and job creation.
