India Poised to Surpass Germany as the 3rd-Largest Economy by 2028: Morgan Stanley
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Synopsis
According to Morgan Stanley, India will become the world's third-largest economy by 2028, surpassing Germany. This growth is driven by strategic leadership and significant economic reforms, reflecting the aspirations of its 1.4 billion citizens.
Key Takeaways
- India is expected to become the third-largest economy by 2028.
- The growth is attributed to strategic leadership and reforms.
- Initiatives like 'Make in India' have driven industrial innovation.
- A youthful workforce is a key driver of progress.
- Indian equity markets are seen as attractive for investors.
New Delhi, March 15 (NationPress) India is on track to become the third-largest economy globally by 2028, surpassing Germany, as highlighted in a report by the international financial services firm Morgan Stanley.
This remarkable growth is attributed to years of strategic leadership and daring economic reforms, as stated in a recent post by the Bharatiya Janata Party (BJP).
Upon assuming office, Prime Minister Narendra Modi initiated a transformative journey.
“Programs like ‘Make in India’ and ‘Digital India’ sparked a wave of industrial creativity, converting villages into manufacturing hotspots and cities into flourishing economic hubs,” the post remarked.
Infrastructure initiatives have redefined landscapes, digital advancements have connected millions, and key reforms have drawn in global investments.
The global community has acknowledged this extraordinary transformation amid a volatile international economic climate.
“India’s ascent is more than mere statistics; it embodies the dreams of 1.4 billion citizens coming to fruition. A youthful, driven workforce is propelling growth, and every achievement reflects the nation’s unwavering spirit,” the party emphasized.
From tax reforms to financial inclusion, and from renewable energy to cutting-edge technology, India’s narrative is one of tenacity and ambition.
“As the economy rises, it’s evident that the future belongs to India,” concluded the BJP's statement.
The Indian equity market appears promising—a landscape ripe for stock selection—as the nation is anticipated to capture a larger share of global output in the decades ahead, fueled by strong foundational factors like population growth, a stable democracy, policy-driven macro stability, enhanced infrastructure, an emerging entrepreneurial class, and improved social outcomes, according to another Morgan Stanley report released this week.
