India, the world’s seventh largest economy today, will grow to be the world’s second-largest by 2050 according to PWC, outpacing the US economy by around 33% as the sleeping giant reaches financial maturity and modernizes its economy.
This potential presents an enormous opportunity for investors. Bank of America published a report illustrating the opportunity last week, outlining the key drivers behind the country’s growth.
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Financial Maturity Will Turbocharge Growth
BoA’s report titled, “The Last BRIC In The Wall” claims that India will overtake Japan to become the world’s third-largest economy within ten years and financial maturity and a demographic dividend starts to pay off.
“Rising saving and investment rates, driven by falling dependency ratios, should fund high 7% real growth (even...
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