India GDP Growth: There is no threat to India's rapid growth for many years, Nifty will make this record by December!

India GDP Growth: There is no threat to India's rapid growth for many years, Nifty will make this record by December!

The Indian economy has been growing fastest compared to other major economies of the world for the last several years. In this matter, there is no threat to India for many years to come. Global brokerage firm Jefferies has expressed such an estimate in a recent report.

Growth will remain like this in the coming years

Jefferies says that the Indian economy will grow at 6% for the next 5-7 years. It is going to grow at an impressive rate of 7 percent. If this happens, then India is going to remain the fastest growing economy in the world for at least the next 5-6 years. According to the brokerage firm, the Indian economy is getting help from capital expenditure i.e. Capex. He says that the upcycle of multi-year capex is keeping the growth strong.

Private capex will compensate

Jefferies report ‘India Outlook 2024’ According to this, even if the expenditure of the Central Government i.e. Capex is reduced, it will not make much difference. According to the report, there is a possibility of reduction in capex in the next two years due to fiscal consolidation. According to Jefferies, the reduction in capex in the interim budget will not have much impact on the broader capex cycle. This will be compensated from private capex. Jefferies is confident that as much as the government's capex will decrease, the flow of private capex will increase by more than that. There has been a lot of emphasis on Capex for years. Especially after the Corona epidemic, as part of its efforts to bring the economy back on track, the government increased spending on infrastructure projects. Increasing tax collection and reducing focus on social spending has also helped the government in increasing capex. Capex in the country has increased 3 times in the last five years. This is proving to be a boon for the economy.

The stock market will reach this height

Jefferies is also very positive about the stock market. According to the report, Nifty will touch the level of 24 thousand points by the end of 50 years. Recently on January 25, Nifty had fallen by more than 100 points and stood at 21,352 points. Its all-time high is 22,124.15 points, which was made this year. Jefferies believes that foreign portfolio investors are going to make good purchases in the Indian market in 2024. However, the data so far shows that FPIs have been selling since the beginning of this year.

Also read: Where did the word budget come from? Know this French connection of Indian budget

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