‘India to become third largest economy, stock market by 2030’
9th Nov 2022
myonlineprep
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‘India to become third largest economy, stock market by 2030’
- US banking group Morgan Stanley has said India is set to become the world’s third-largest economy and stock market by the end of this decade with the GDP likely to cross US$ 7.5 trillion by 2031, more than double the current level.
- According to Morgan Stanley, the number of households earning in excess of $35,000 a year is likely to raise five fold in the coming decade, to over 25 million.
- The implications are that GDP is likely to cross $7.5 trillion by 2031, more than double the current level, a discretionary consumption boom and 11% annual compounding of market capitalization to US$ 10 trillion in the coming decade.
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