Financial services company JPMorgan has come up with an amazing research. The top private bank’s managing director of Asia Pacific equity research, James Sullivan stated that India is all set to rank as the third largest economy in the world by 2027. It will have an amazing gross domestic product (GDP), which will be just more than double to $7 trillion by 2030.
Sullivan in a media interaction stated that he would argue extremely strong long-term tactical drivers that make the country as an important overweight from a structural view from JPMorgan.
Sullivan stated that the manufacturing contribution to India’s GDP may increase to almost 25% from 17% and exports to become more than two times, which is over a trillion dollars.
Sullivan further added that seeing from a longer-term view, India will witness huge changes in the overall structure of the economy. It will provide clear chances for selection in the industry which is perceived to be a strong overall market.
Sullivan said the below-average earnings revision in China, is a trend not witnessed ever since 2005. It hints at the fact that China may hit an inflexion point in its economic trajectory. This can usually lead to new chances as well as problems, making it a matter of important interest for investors.
Sullivan also mentioned how one can understand from China’s focus on very particular sectors. Similarly, if India focuses in alignment with the government policies and deeply beaten down sectors that provide important valuation backing then there is a huge opportunity. So, there is a slight difference in the portfolio allocation plan in every market.
As per reports, China is thinking about taking a boost in its 2023 budget deficit via a new stimulus campaign. The country also has plans to set up a stock stabilization fund to improve investor confidence within the stock market industry.
Prime Minister of India’s Office announced on X about the same. You can check the tweet here.
Well, it is really interesting to note that India which was always termed as a poor country or developing country or under-developed country has grown in terms of everything in the last 75 years. Yes, there is poverty in the country still in several parts but that doesn’t mean the entire nation is not advanced or developed.
India being a huge nation with a large population has its own pros and cons in the management and direction of the country. One cannot just term this news as a headline to be coming just before the elections or assembly polls. Instead, one must look at the facts published by corporations like JPMorgan or any other on what they view India to be rising towards.
If you really want to contribute to making India one of the largest economies in the world, then study hard, work hard, and give your best to make the country proud of your achievements. Way forward for India which has been working for the betterment of the next generations!