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As India expands its global footprint, US-based investment banking company Morgan Stanley has lauded country’s growth story. The report, ‘India Equity Strategy and Economics: How India Has Transformed in Less than a Decade’ highlighted India’s growth story. India has gained positions in world order with significant positive consequences for macro, market outlook, said the report. The paradigm shifts in policy choices and their implications are said to be the reason behind India’s strides. However, despite being “2nd fastest-growing economy”, the report said that India hasn’t delivered its potential. The research considered 10 big changes including supply-side policy reforms, Real Estate Act, digitalizing social transfers. On May 18, Morgan Stanley said India is poised to grow at 6.2 pc in the current financial year 2023-24. The firm also sees improvement in macro stability indicating that monetary policy will not have to turn restrictive. Morgan Stanley’s report comes months after IMF MD Kristalina Georgieva hailed India as “bright spot”. IMF also pinned its hopes on India for global economic revival in its World Economic Outlook report.
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