India is likely to be the world’s fastest-growing large economy in the next 10 years, driven by digitisation, favourable demographics, globalisation and reforms, according to the Morgan Stanley report.
According to the global financial services major, the trend line in India’s annual GDP growth has been accelerating to 6.9 percent in 2000s, from 5.8 percent in the 1990s, and this momentum is likely to continue in the next decade as well.
Important Takeaways from Above News-
- Morgan Stanley expects digitisation will provide an enhancement of 50-75 bps to GDP growth and forecast that India will grow to a 6-trillion-dollar economy and achieve upper-middle income status by 2026-27.
Source- The Hindu