https://sputniknews.in/20230803/global-broker-conglomerate-puts-india-at-top-of-emerging-markets-3370355.html
Global Broker Conglomerate Puts India at Top of Emerging Markets
Global Broker Conglomerate Puts India at Top of Emerging Markets
Sputnik India
Brokerage firm Morgan Stanley has upgraded India’s market outlook to “overweight” from “equalweight,” saying they believe India is just at the start of a long-wave boom.
2023-08-03T21:23+0530
2023-08-03T21:23+0530
2023-08-03T21:23+0530
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Brokerage firm Morgan Stanley has upgraded India’s market outlook to “overweight” from “equalweight”, saying they believe India is just at the start of a long-wave boom.An overweight outlook means that Morgan Stanley is hopeful of India’s economy performing better in the future.Sputnik spoke with Sudhanshu Kumar, an economic an expert on Morgan Stanley ratings. He said there are multiple reasons to have confidence in the story that India presents hope to the world in terms of economic activity for the time to come. In March, Stanley upgraded India’s outlook to equalweight from underweight. The current upgrade came after just four months.Morgan Stanley said things have fundamentally changed in India, including structural reforms, supply-side reforms like corporate tax cuts and production-linked incentive (PLI) schemes, and regulation and formalization of the economy.Kumar also focused on the point that the current upgrade comes at a time when rating agency Fitch downgraded the US from AAA to AA+, citing expected fiscal deterioration over the next three years, as well as a high and growing general government debt burden.“However, despite this, India has performed reasonably well in the current decade”, Kumar said.
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brokerage firm morgan stanley, morgan stanley, overweight, equal weight, sudhanshu kumar, economic expert, structural reforms, sustainable fiscal management, macroeconomic scenario, corporate tax cuts, production-linked incentive, pli, fitch has downgraded the us rating from aaa to aa+, macroeconomic indicators,
brokerage firm morgan stanley, morgan stanley, overweight, equal weight, sudhanshu kumar, economic expert, structural reforms, sustainable fiscal management, macroeconomic scenario, corporate tax cuts, production-linked incentive, pli, fitch has downgraded the us rating from aaa to aa+, macroeconomic indicators,
Global Broker Conglomerate Puts India at Top of Emerging Markets
Deexa Khanduri
Sputnik correspondent
Releasing a statement, Morgan Stanley said that India’s macro indicators remain resilient, adding that India’s economy is on track to achieve a GDP growth forecast of 6.2 percent.
Brokerage firm Morgan Stanley has upgraded India’s market outlook to “overweight” from “equalweight”, saying they believe India is just at the start of a long-wave boom.
An overweight outlook means that Morgan Stanley is
hopeful of India’s economy performing better in the future.
Sputnik spoke with Sudhanshu Kumar, an economic an expert on Morgan Stanley ratings.
He said there are multiple reasons to have confidence in the story that India presents hope to the world in terms of economic activity for the time to come.
"Recent structural reforms and sustainable fiscal management in the country have resulted in a macroeconomic scenario that is ready to deliver a much higher economic growth among the large economies”, Kumar stated.
In March, Stanley upgraded India’s outlook to equalweight from underweight. The current upgrade came after just four months.
Morgan Stanley said things have fundamentally changed in India, including structural reforms, supply-side reforms like corporate tax cuts and production-linked incentive (PLI) schemes, and regulation and formalization of the economy.
Kumar also focused on the point that the current upgrade comes at a time when rating agency Fitch downgraded the US from AAA to AA+, citing expected fiscal deterioration over the next three years, as well as a high and growing general government debt burden.
“However, despite this, India has performed reasonably well in the current decade”, Kumar said.
“If we combine other macroeconomic indicators, the current rating indicates that the Indian economy is expected to do better in the future and, therefore, investors can benefit from India’s growth story”, the expert added.
