For those of us in India who invest in the stock market must have been delighted with the news – India’s stock market capitalization has overtaken Hong Kong’s for the first time as the South Asian nation’s growth prospects and policy reforms make it an investor darling while global capital pours out of China.
The combined value of shares listed on Indian exchanges reached $4.33 trillion as of Monday’s close, versus $4.29 trillion for Hong Kong, according to data compiled by Bloomberg. This has led to a wave of enthusiasts in the equity holders as well as the general public. Every investor now feels that India is a safe place to invest in. Nothing is going to hold India back as increasing exports and diminishing volume of imports is making the economy stronger day by day. In the Asian sub-continent, India is far ahead of Bangladesh, Pakistan, and Sri Lanka. Even though the economy of Bangladesh is also improving day by day, the size of their economy is still about five times smaller than the Indian economy.
Combine this with the statement of the current Indian Finance Minister that India will become the world’s third-largest economy by 2027-28, with its GDP surpassing $5 trillion during that period. This is a great estimation and the news outlets dealing with collecting, assimilating, ideating and processing of financial world news concur to the statement of the Indian Finance Minister that by 2027 India would be the world’s third-largest economy.
India has a younger population with a median age in the mid-twenties while the population of countries like Italy, Japan, South Korea is ageing faster. India is poised to achieve well-deserved greatness in the coming time. The global oil prices are coming down suggesting the central government may cut down petrol and diesel prices in the coming fortnight. On the Human Development Index (HDI) India needs to work hard. The benefits of five trillion dollars have to percolate down to every citizen of India irrespective of where he is in his race for upward mobility.
The coming four to five years should steer India on the right path and soon India can emerge as a global player in the economy.
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