According to JPMorgan, India Is on Its Way to Becoming the World’s Third Largest Economy

JPMorgan’s Head of Asia Pacific Equity Research, James Sullivan, expects India to become the world’s third-largest economy by 2027.

James Sullivan, JPMorgan’s Head of Equity Research for the Asia-Pacific region, predicts that India will become the world’s third-largest economy by 2027 and expects its Gross Domestic Product (GDP) to more than double to reach $7 trillion by 2030.

In an interview with CNBC-TV18, Sullivan stated, “I believe there are very powerful long-term tactical factors that make India a very significant weight in JPMorgan from a structural perspective.” These remarks highlight India’s potential for economic growth and have piqued the interest of investors.

According to Sullivan, Exports Will Increase

Sullivan, who foresees developments that will structurally contribute to India’s GDP, expects the manufacturing sector’s contribution to increase from about 17% to nearly 25% and anticipates that exports will more than double, surpassing one trillion dollars.

Additionally, Sullivan mentioned the need for “increased weight” on China. He pointed out that China’s earnings revisions are below average, suggesting that China’s economic trajectory could be at a significant turning point. After emphasizing that this turning point could present new opportunities and challenges, he noted that investors should focus on this matter.

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