biz desk
Global investment advisory firm Jefferies has projected an optimistic outlook for the Indian economy and its equity markets. In its latest note, the New York-headquartered firm has said that in the last ten years, India has seen fundamental structural reforms which have created the framework for the country to realise its full potential.
It said, that over the next four years, India’s GDP will likely touch five trillion US dollars making it the third largest economy by 2027, overtaking Japan and Germany, maintaining the status of fastest-growing large economy. In the process of sustained economic growth, the Global Firm expects Indian stock market to hit 10 trillion US dollars by 2030. The Global Firm in its report has observed that India’s market capitalization at 4.3 trillion US dollars ranks 5th in the world behind USA, China, Japan and Hong Kong. The firm noted that with a renewed Capital Expenditure cycle and robust earnings profile, Indian markets will continue to deliver attractive growth over the next 5 to 7 years.