India to become third-largest economy by 2027, third-largest stock market by 2030: Report
A report by Morgan Stanley has forecast that India will surpass Japan and Germany and become the third largest economy by 2027. The country is also on track to have the largest stock market by 2030 following its key investments in technology and energy.
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FollowIt is no secret that India has risen to become one of the top economies in the world in recent years. The country's economy also continued to expand even as the world faced challenges from the CoVD-19 epidemic and the Russia-Ukraine war. In the coming ten years, India is expected to contribute one-fifth of the growth in the global economy.
India's GDP is expected to double from its present $3.4 trillion to $8.5 trillion over the next ten years thanks to annual GDP growth of more than $400 billion, which is only topped by the US and China. Over that time, its percentage of global exports may also quadruple, and the BSE may have yearly growth of 11%, with a market capitalization of $10 trillion in the next ten years. This prediction was made by global investment firm Morgan Stanley.Â
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As long as the necessary factors are met, India is also expected to have the third-largest economy and stock market in the world by 2027 and 2030, respectively. The Morgan Stanley analysis also predicted that by 2032, India's market capitalization, which is currently $3.4 trillion, will have increased by nearly three times to $11 trillion, ranking third in the world.
With an average annual increase in gross domestic product of 5.5% during the previous ten years, it was said that India's economy is already the fastest-growing in the world. Global offshore, digitization, and the energy revolution are the three megatrends that are currently paving the way for the nation of more than 1 billion people to see unheard-of economic growth.
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According to the report, businesses all around the globe have been outsourcing to India since the early days of the Internet for services like software development, customer care, and business process outsourcing. However, the notion of India serving as the world's back office is currently gaining new impetus as a result of tighter global labour markets and the advent of remote work arrangements. According to Morgan Stanley research, international firms' perceptions of India's investment prospects are at an all-time high.
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