To those who live in India, some might feel the system is corrupt, the infrastructure is horrendous and the day to day life is quite stressful. Incidentally, it seems to be one of the main triggers for thousands of youngsters desperate to go abroad and settle there. While that may be so, here is a piece of information that might just change the perspective.
The world renowned investment management and financial services company Morgan Stanley has come up with a research which speaks about the future of India. For starters, they have announced that by the year 2027 India is going to become the third strongest economic power after USA and China. It is expected to pull back the giants like Germany and Japan, presently India is in the 5th position.
Yet another observation which has been made is by the year 2030, India is expected to have the world’s third most happening stock market. Due study has gone inside these observations as India is currently clocking 5.5% average gross domestic product growth over the past decade. Now, three verticals are setting the stage for what is being seen as a major booster for unprecedented economic growth, they are digitization, global offshoring and energy transition.
Experts believe India’s GDP could double from $3.5 trillion and surpass $7.5 trillion by 2031. With global exports also doubling during that period, the Bombay Stock Exchange is expected to deliver 11% annual growth touching a market capitalization of $10 trillion in the coming decade.
At a time when the world is going through a phase of recession, it is evident that the investors focus is more on India which has the power to generate more than $400 billion annual economic output growth from 2023 onwards. It is also expected that India’s share of manufacturing would increase to 21% of GDP by 2031.
While the above are just some of the stats which prove that India is going to be a force to reckon with, the current administration is exploring newer avenues to take this nation to a world stage. On the flip side though, a lot needs to be done on improving the infrastructure and creating more corrupt free governance.
