FLIN - India For The Long Run

2024-03-22 07:05:00 ET

Summary

• India registering one of the highest growths of any major economy with a stellar 8.4% surge in the last quarter of 2023, surprising consensus estimates on the upside.
• India’s stock market has witnessed one of the best spells of outperformance over the broad emerging markets.
• India still has a long way to go before realizing its full potential.

By Ayush Babel

Just a decade ago, the Indian economy was struggling and was dubbed as one of the "Fragile Five" economies. This was due to many serious structural problems, such as mass corruption, failed government services, poor infrastructures and ailing banking and energy sectors, just to name a few. Contrast that to current times, with India registering one of the highest growths of any major economy with a stellar 8.4% surge in the last quarter of 2023, surprising consensus estimates on the upside. A host of reforms by Prime Minister Narendra Modi's administration has led to a massive turnaround, leading India from "Fragile Five" to the fifth-largest economy in the world. With the current growth rates, it is set to surpass Japan and Germany to become the third-largest economy by 2027....

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