India's Equity Engine Revs Up: Set For $10 Trillion M-Cap And Top 3 Economy Status

India is on a robust growth trajectory, with Jefferies predicting that it will become the third-largest economy by 2027. By 2030, India's market capitalisation is expected to soar to $10 trillion, securing a prime spot in the global economic landscape. This growth spurt is a result of a series of reforms, as well as contribution from RoE-focused India Inc.
Indian stock market  Jefferes on Indian stocks

India's stock market capitalisation is expected to soar to 10 trillion by 2030. (Pic: DALL-E)

India is on a robust growth trajectory, with Jefferies predicting that it will become the third-largest economy by 2027. Powered by a consistent 7 per cent compounded annual growth rate (CAGR) in its GDP over the last decade, India has already propelled itself from the 8th to the 5th largest economy globally. By 2030, India's market capitalisation is expected to soar to $10 trillion, securing a prime spot in the global economic landscape.
This growth spurt is a result of a series of reforms, including the implementation of GST and the push towards digitalisation, which have helped streamline the economy despite causing temporary growth pains. India's equity market, currently the fifth-largest globally with a market cap of $4.5 trillion, has shown resilience, with a history of generating annual returns of 10 per cent in USD terms over the last 20 years.
A critical factor in this growth story is the return on equity (RoE)-focused corporate sector, which provides a plethora of investment opportunities with 167 companies having over $5 billion market cap each. The domestic investment culture is strengthening, with sustainable investment habits translating into $50 billion per year flow into equities from domestic investors, potentially keeping market valuations high but also stabilising market volatility.
India's ascent in the global economic hierarchy is also driven by its burgeoning service exports, including remittances, which currently amount to nearly $450 billion per year. The country's strong corporate culture, bolstered by a comprehensive institutional framework and regulatory ecosystem, is laying the foundation for a stable and growth-oriented economic future.
The Indian economy's resilience and projected growth stand out, particularly as many other large economies face the prospect of declining growth rates. With such promising forecasts, India is quickly climbing the global economic ladder, positioning itself as a pivotal market for international investors and a significant contributor to global economic dynamics.
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