Morgan Stanley Report
India’s economy would pass the US$6.4 trillion mark by 2030, with per capita income at US$4,279 – reaching the upper middle income country threshold.
This implies a real GDP growth of 6% and nominal growth of 10-10.5%. A key ingredient to our forecast is our estimate that manufacturing
as a share of GDP will rise from approximately 15% of GDP currently to 20% by F2030, implying that its goes from US$400bn to US$1175bn.
Markets
By 2030, India's market capitalization could grow to US$6.4 trillion in line with GDP growth, an annual increase of 10%. With accelerating earnings and reasonable relative valuations.
Is Market Cap / GDP = 1.0 the new normal in valuation ?
