By 2027, India will overtake Japan and Germany to become the third-largest economy, according to a Morgan Stanley estimate. By 2030, the nation is expected to have the largest stock market thanks to significant investments in both technology and energy.
It is no secret that India has recently grown to become one of the world’s top economies. Even while the CoVD-19 epidemic and the Russia-Ukraine war presented obstacles to the world, the nation’s economy also kept growing. India is anticipated to contribute one-fifth of the growth in the world economy during the next ten years.
Over the next ten years, India’s GDP is anticipated to double from its current $3.4 trillion to $8.5 trillion thanks to yearly GDP growth of over $400 billion, which is only surpassed by the US and China. Its share of world exports might treble over that time, and the BSE could expand by 11% annually, reaching a market cap of $10 trillion in the following ten years. Global investing firm Morgan Stanley made this forecast.
India is anticipated to have the third-largest economy and stock market in the world by 2027 and 2030, respectively, provided that the necessary conditions are satisfied. According to the Morgan Stanley research, India’s market capitalisation, which is currently $3.4 trillion, will have nearly tripled to $11 trillion by 2032, placing it third in the world.
It was said that India’s economy is already the fastest-growing in the world, with a gross domestic product that has grown by 5.5% annually on average over the past ten years. Three megatrends—global offshore, digitalization, and the energy revolution—are currently enabling the more than 1 billion-person country to experience previously unheard-of economic growth.
Since the early days of the Internet, firms all over the world have outsourced to India for services like software development, customer service, and business process outsourcing, claims the research. However, as a result of more competitive global labour markets and the emergence of remote work options, the idea that India would eventually become the world’s back office is currently gaining new momentum. International companies’ perceptions of India’s investment possibilities are at an all-time high, according to Morgan Stanley study.