India fastest economy in the next 10 years, Rs 390 lakh crore by 2027 GDP: Morgan Stanley.Indian economy can be the world’s fastest economy within the next 10 years. Digitization, globalization and other changes and better demographics will be responsible for this. It is estimated by the World Financial Services Agency Morgan Stanley.
According to Morgan Stanley, India’s trend of growth in GDP growth rate remains. India’s GDP was growing annually by 5.8 per cent in the 1990s. In the 2000s it reached level of 6.9 per cent. The agency expects that this trend will continue in the next decade and this will accelerate the Indian economy.
Digital Reform Will Play Big Role
Morgan Stanley hopes that digitization will become the largest partner 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 to grow
The firm said in a research note that we estimate that the actual and indicative 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. Experts believe that due to some of the changes, there has been a stir in the economy. Because of this, the growth rate has slowed down.
Stock market catch speed
It 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 ie 3 3 trillion rupees.