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India Set To Become Third-Largest Economy By 2027: Morgan Stanley
The report said that India's share of manufacturing is seen rising to 21 per cent of GDP by 2031.(File) Bolstered by investments it has made in technology and energy, India is set to surpass Japan and Germany to become the world's third-largest economy by 2027, Morgan Stanley has forecast. A slew of factors such as corporate tax cuts, investment incentives, and infrastructure spending are helping drive capital investments in manufacturing, Morgan Stanley said, adding that India is also poised to become the factory of the world. Consumers are likely to have more disposable income. India's income distribution could flip over the next decade, and consequently overall consumption in the country could more than double from $2 trillion in 2022 to $4.9 trillion by the end of the decade. The rise in India's energy consumption alongside the energy transition opens up a new segment to boost investment growth, said Girish Achhipalia, India Utilities and Industrials analyst. Source - NDTV #indianEconomy #marganstanley #india
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