India GDP: By 2027, India can become the third largest economy in the world. Global brokerage firm Jefferies made this claim. Jefferies said in its report that due to the continuous increase in economic growth rate, favorable geopolitical conditions, surge in market capitalization, steps being taken towards reforms and strong corporate culture, India will be the third largest economy in the world by 2027.
India will soon leave Germany and Japan behind
Jefferies' India Equity Analyst Mahesh Nandurkar wrote in his note, India has been growing at an annual growth rate of 7 percent continuously for the last 10 years and the Indian economy has become the fifth economy from the eighth with an economy of 3.6 trillion dollars. . According to the note, the Indian economy will become worth 5 trillion dollars in the next four years and India will become the third largest economy in the world, leaving behind Germany and Japan.
Market cap will be 10 trillion dollars by 2030
In his note, Jefferies wrote that in dollar terms, India's equity market has been continuously growing at the rate of 10-12 percent for the last 10 to 20 years. India has now become the fifth largest equity market in the world and by 2030 the market cap of India's stock market can touch 10 trillion dollars.
The valuation of the Indian market is attractive
Mahesh Nandurkar of Jefferies said that India will continue to grow at the fastest pace due to concrete steps taken towards reforms. Due to increase in domestic investment, the volatility in the Indian market has reduced and the investment from foreign investors is very less due to which the valuation still remains attractive. According to the note, the market cap of 167 companies is more than $5 billion, which is giving investors huge investment options.
PM Modi has also claimed
Recent Prime Minister Narendra Modi has also claimed that during the third term of his government, India will become the third largest economic power in the world. Many rating agencies and investment bankers of the world have also made this prediction. Rating agency S&P Global Ratings had made this claim in the first week of December 2023.
Also read
Get more latest business news updates