Global financial services agency Morgan Stanley has estimated the Indian economy. According to it, within the next 10 years, India can be the world’s fastest economy. Digitalization, globalization and better demographics changes will be responsible for this.
According to Morgan Stanley, India’s trend of growth in GDP growth remains. India’s GDP was growing annually by 5.8 percent in the 1990s and it reached 6.9 percent in the 2000s. The agency expects that this trend will continue in the next decade and this will accelerate the Indian economy.
“Changes will be even wider on the basis of per capita income, we estimate that the per capita annual income will reach $ 4,135 by the fiscal year 2027, which will lead India to upper-middle income status By 2027 and per capita income in India will be similar in 2010 to China.” Morgan Stanley Research Report
Digital Reform Will Play Big Role
Morgan Stanley hopes that Digitalization will play the biggest role in increasing the Indian economy. This can lead to GDP growth of 50-75 bps. The firm expects that by 2027 India’s GDP will be Rs. 390 lakh crore. With this, India will also get high middle-income status.
GDP will grow
The firm said in a research note that we estimate that the actual and nominal GDP of the Indian economy can be 7.1 percent and 11.2 percent annually. But the economy may slow down in the medium term. There has been a stir in the economy. Experts believe that due to the past few changes, the growth rate has slowed down due to this.
Stock market will also catch speed
It has also been said in the report that India’s stock market can also be the best performer in the next 10 years. This will increase the market cap of the Indian market to 6 trillion dollars.
In addition, the gross FDI inflow is likely to be $ 120 billion by 2026-27, which is twice the current 12-month trailing run rate of $ 64 billion.