Digitisation of India’s cash-bound economy and tax reforms can accelerate expansion and propel the country forward to become one of the world's fastest-growing large economies over the next 10 years, a new report from Morgan Stanley Research has said.
Endorsing the government’s string of bold economic initiatives that are aimed at delivering benefits in the long run, the report said India was already on its way to growing at a brisk pace over the next decade, buoyed by demographics, reforms and globalisation.
“The country was already on a strong trajectory, but digitisation puts India's nominal gross domestic product (GDP) growth on track to compound annually by more than 10 per cent in US dollar terms over the coming decade," says Anil Agarwal, head of Asian Financial Research at Morgan Stanley.
“The result could be a multi-trillion-dollar opportunity.”
Read more at https://swarajyamag.com/economy/morgan-stanley-boosted-by-digitisation-gst-india-to-be-third-largest-economy-in-world-by-2027
Endorsing the government’s string of bold economic initiatives that are aimed at delivering benefits in the long run, the report said India was already on its way to growing at a brisk pace over the next decade, buoyed by demographics, reforms and globalisation.
“The country was already on a strong trajectory, but digitisation puts India's nominal gross domestic product (GDP) growth on track to compound annually by more than 10 per cent in US dollar terms over the coming decade," says Anil Agarwal, head of Asian Financial Research at Morgan Stanley.
“The result could be a multi-trillion-dollar opportunity.”
Read more at https://swarajyamag.com/economy/morgan-stanley-boosted-by-digitisation-gst-india-to-be-third-largest-economy-in-world-by-2027
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