Jefferies, an Investment banking firm forecasts that Bharat is set to become the third-largest economy globally by 2027, leaving behind both Japan and Germany.
The Country’s economy is forecasted to be strong with GDP projected to reach $5 trillion in the next four years and nearly $10 trillion by 2030
‘Jefferies highlighted Bharat’s economic growth trajectory, noting its change from the ninth-largest economy a decade ago to the fifth-largest today, with a nominal GDP of $3.4 trillion’, according to media reports.
A Hindustan Times report cited Chris Wood of Jefferies who signified the influence of fundamental structural reforms under Prime Minister Modi’s leadership.
‘These reforms have enhanced Bharat’s macroeconomic indicators, making the country attractive to foreign investors’ according to Jefferies.
The investment banking company predicts Bharat’s GDP growth to exceed most large economies globally, with a projected growth rate of 6 % over the next five years.
Rising growth rates are also driving Bharat’s scaling the global economic stage apart from the structural reforms.
Jefferies anticipates growth in Bharatiya equity markets, with returns of 8-10 % in dollar terms over the next five to seven years.
Structural domestic flows and the listing of large unicorns are poised to drive the market cap past $10 trillion by 2030.
The company also signified the chances for increased foreign investment in Bharat.
Comments