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India getting closer to becoming a $6 trillion economy

Digitisation will boost India’s GDP growth by 50 to 75 basis points in the next decade and may lead India to become a $6 trillion economy, the third largest in the world says a Morgan Stanley report ‘India's digital leap - The multi-trillion dollar opportunity’. The study further states real and nominal GDP growth is expected to compound annually by 7.1 per cent and 11.2 per cent respectively over the next ten years.

Despite some short-term teething problems, including implementation of GST, there is scope for visible shifts in economic activity starting in 2018, which would eventually lead India to be among the top five equity markets in the world and the third-largest listed financial services sector globally.

India’s consumer sector is also likely to add about $1.5 trillion over the next 10 years. However, GST is expected to disrupt smaller businesses causing job losses and a general slowdown in economic growth. There are also risks related to political stability and the privacy debate over the Aadhaar unique identity number.

Gross foreign direct investment inflows amounting to $120 billion by fiscal 2026-27 and robust stock markets should drive stronger corporate earnings growth. The country is also likely to witness strong domestic participation in equities. <br/

 
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