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India Will Become Third-Largest Economy By 2027: Morgan Stanley

India Will Become Third-Largest Economy By 2027: Morgan Stanley predicts that a shift in policy toward encouraging investment, demographic advantages, and public digital infrastructure will propel India to the world’s third-largest economy by 2027. Tax reforms such as the Goods and Services Tax (GST), a reduction in the corporate tax rate, and the implementation of production-linked incentive schemes are examples of policy shifts. Following significant investments in technology and energy, the country is also on track to have the largest stock market by 2030.

India Will Become Third-Largest Economy By 2027: Key Points

  • India is entering a period in which income will compound at a rapid rate on a large base. To put this in context, it took India 31 years since 1991 to increase its GDP by $3 trillion. According to the projections, an additional $3 trillion in GDP growth will take just seven years.
  • India is the fastest-growing economy in the world and its gross domestic product (GDP) could double from the current $3.5 trillion to over $7.5 trillion by 2031.
  • Over the same period, India’s share of global exports could double, and the Bombay Stock Exchange could grow at an 11% annual rate, reaching a market capitalization of $10 trillion.
  • It is said that from 2023 onwards, India will be one of only three economies in the world capable of generating more than $400 billion in annual economic output growth. It is also assumed that by 2028, the figure would rise to more than $500 billion.
  • Three megatrends have been attributed to India’s economic growth: global offshoring, digitalization, and energy transition.
  • According to Morgan Stanley India, the country is on track to become a global factory and office. It stated that four major global trends are currently causing him to believe that India’s GDP will more than double in the next ten years.
  • Demographic issues (ageing populations), de-globalisation, disruption from digitalisation, and decarbonisation because the world is obsessed with climate change are all issues that need to be addressed. India is most likely the world’s only country benefiting from these four trends.

About Morgan Stanley

  • Morgan Stanley is a multinational investment management and financial services firm headquartered in Midtown Manhattan, New York City, at 1585 Broadway.
  • Morgan Stanley raises capital to assist governments, corporations, institutions, and individuals all over the world
  • CEO: James P. Gorman
  • Founders: Henry Sturgis Morgan, Harold Stanley, Dean G. Witter, Reynolds Securities
  • Founded: 5 September 1935
  • Headquarters: New York, United States
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