India to drive a 5th of global growth: Morgan Stanley

According to Morgan Stanley, India's size and scale are key assets that will enable it to become the world's third-largest economy by 2027. Morgan Stanley predicts that the country's GDP will double over the next ten years, from $3.4 trillion to $8.5 trillion. India will add more than $400 billion to its GDP every year, a scale that is only surpassed by the US and China, according to the report. It also forecasts that India's market capitalisation will rise from $3.4 trillion to $11 trillion by 2032, making it the world's third largest. These projections, however, are supported by favourable domestic and global forces. Domestically, it is critical to shift policy away from redistribution and towards boosting investment and job creation. Also Read Hyderabad sees registration of homes worth Rs 22.37 bn in Oct Praj and ESIIC enter into agreement to expedite bioeconomy in Egypt