India GDP will grow to a $6 trillion by 2027
India is likely to be the world’s fastest-growing large economy in the next 10 years, driven by digitisation, favourable demographics, globalisation and reforms, predicts a Morgan Stanley report. According to the global financial services major, the trend line in India’s annual gross domestic product (GDP) growth has been accelerating to 6.9% in 2000s, from 5.8% in the 1990s, and this momentum is likely to continue in the next decade as well. Morgan Stanley expects digitisation will provide a boost of 50-75 basis points to GDP growth and forecast that India will grow to a $6 trillion economy and achieve upper-middle income status by 2026-27. India’s GDP growth slipped to a three-year low of 5.7% in April-June as disruptions caused by demonetisation spilled over to the third straight quarter amid slowdown in manufacturing activities. Experts believe that reforms over the past year have created disruption in India’s GDP numbers, but the medium term growth potential of the country look