Skip to main content
Back

Transitioning to India’s next stage of growth

1 September 2023

As highlighted in our recent executive summary, India’s growth agenda is already paying dividends via the drivers of formalisation and digitisation that catalysed reinvestment in manufacturing. The result: the country’s macro economy has become more resilient with increased capital expenditure and industrial order books, as well as a narrowing current-account deficit and a healthier inflationary picture.

This thought leadership piece offers an in-depth look at how the current economic foundation, based on key government reforms, has enabled the economy’s next compelling stage. The paper further introduces the new drivers of growth, classified as the 5Ds: Digitisation, Deglobalisation, Decarbonisation, Demography and Deficit Reduction. They are poised to reshape the country’s commercial environment across diverse sectors, and we believe they should represent a paradigm shift for the Indian economy and how investors view it.

Given the current market environment, this piece highlights how Indian equities may participate in the country’s long-term growth story amid policy continuity and a stable regulatory environment. Overall, we think the asset class potentially presents sustainable growth opportunities at an uncertain time when the global growth outlook and corporate earnings environment remain unsettled.

 

Read the full edition

  • Quick comments on Moody's cut US credit rating

    On May 16, credit rating agency Moody's Ratings downgraded the United States' credit rating from Aaa to Aa1. Alex Grassino, Global Chief Economist, together with the Multi-Asset Solutions Team (MAST), Macroeconomic Strategy Team, share their latest views.

    Read more
  • Macro meets markets: 5 investable themes to watch

    The intersection between the macro backdrop and the market setting investors must navigate has perhaps never been more apparent than it is today. The five themes discussed below highlight this critical intersection.

    Read more
  • Riding the wave: building resilience amid volatility

    On the back of escalating tariffs between the United States and other parts of the world, markets have dropped significantly as economic growth concerns have risen and investor sentiment and consumer confidence have destabilized, with some markets tiptoeing precariously on the precipice of bear market territory as of this writing.

    Read more
See all
  • Quick comments on Moody's cut US credit rating

    On May 16, credit rating agency Moody's Ratings downgraded the United States' credit rating from Aaa to Aa1. Alex Grassino, Global Chief Economist, together with the Multi-Asset Solutions Team (MAST), Macroeconomic Strategy Team, share their latest views.

    read more
  • Macro meets markets: 5 investable themes to watch

    The intersection between the macro backdrop and the market setting investors must navigate has perhaps never been more apparent than it is today. The five themes discussed below highlight this critical intersection.

    read more
  • Riding the wave: building resilience amid volatility

    On the back of escalating tariffs between the United States and other parts of the world, markets have dropped significantly as economic growth concerns have risen and investor sentiment and consumer confidence have destabilized, with some markets tiptoeing precariously on the precipice of bear market territory as of this writing.

    read more
see all