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Will India become the world’s largest economy by 2075? Here’s what financial experts say

February 24, 2024
in Business
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India’s economic growth has been remarkable, with experts predicting significant achievements in the near future. Avinash Kansal, Head of Capital Markets & Custody at ICICI Bank, emphasizes India’s exceptional growth trajectory, projecting it to become the third-largest economy globally. Factors such as increased productivity, digital disruption, and a growing working-class population are attributed to India’s growth by Kansal.

Speaking at Anmi’s 13th International Convention 2024, Kansal expressed his optimism about India’s growth, stating, “Becoming the third-largest economy is inevitable for India. The country is gaining global recognition, and the bond market inflows are expected to be substantial in the next few years. India is likely to move up to the second position within the next 25 years,” Kansal remarked.

Meanwhile, Ashok Kumar Agarwal, Chairman and Promoter of Globe Capital Markets, believes that India has the potential to become the world’s leading economy within the next 50 years. He highlighted the Indian market’s ability to deliver a 15% annualized return to investors and expressed confidence in India’s journey towards becoming a developed economy and eventually the number one economy globally.

Abhisar Jain, CFA, Head and Fund Manager at Monarch AIF, observed the rise of alternative investment options in India, with the alternative industry growing to Rs 10 lakh crore in less than a decade. He also noted the regulatory efforts aimed at enhancing Portfolio Management Services (PMS) and Alternative Investment Funds (AIF), predicting a promising future for these sectors.

Jain stated, “Alternates have made a significant impact in India. Sebi is working towards improving the PMS space and managing disruptions effectively. We are optimistic about the equity markets and believe in the positive outlook for them.”

Furthermore, Ajay Kejriwal, CEO of Choice Equity Broking, highlighted the increasing participation of retail investors in equity markets, particularly through systematic investment plans (SIPs), indicating growing confidence in India’s economy. He also mentioned that the current valuations of the Indian equity market are expected to remain stable.

Deepak Kumar Lalla, MD and CEO of SBI Securities, emphasized the importance of considering microeconomic factors while making investment decisions. He noted the favorable conditions in managing foreign currency, inflation, FDI participation, and SIP inflows, suggesting that long-term investments in India are likely to be profitable.

Overall, India’s economic landscape offers abundant opportunities for investors, supported by a strong regulatory framework, increasing retail investor participation, and positive high-frequency indicators, setting the stage for sustained growth.



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