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The MSCI India index has outperformed the MSCI Emerging Market index by a factor of 2. Pixabay

The research by Morgan Stanley said over the past two and half decades, India’s GDP has risen 11-fold, and the equity market cap has risen 30 times. In 1993, when foreign portfolio investors were first allowed to buy Indian stocks, India’s GDP and market cap stood at $260 billion and $90 billion, respectively.

Since then FPIs have bought a cumulative $217 billion In the 27 years since then, India’s GDP has risen 11-fold to $2,870 billion, an average annual real growth rate of 6.5 percent. The country’s equity market capitalization has increased by over 13 percent annually to $2.7 trillion. The MSCI India index has outperformed the MSCI Emerging Market index by a factor of 2.

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“If our growth projections were to come to fruition, India’s economy would pass the $6.4 trillion mark by 2030, with per capita income at $4,279 reaching the upper-middle-income country threshold. This implies real GDP growth of 6 percent and nominal growth of 10-10.5 percent,” Morgan Stanley said.

A key ingredient to the forecast is our estimate that manufacturing as a share of GDP will rise from approximately 15 percent of GDP currently to 20 percent by F2030, implying that its goes from $400 billion to $1,175 billion.

India’s GDP has risen 11-fold, and the equity market cap has risen 30 times. Pixabay

The note said that the thrust toward a manufacturing-led growth will set in motion the virtuous cycle of productive growth of higher investment – job creation – income growth – higher saving – higher investment and India would be one of the few large economies offering high nominal productive growth.

“The stars appear aligned for a new profit cycle. For an economy that is likely to grow at a nominal rate of 10 percent per annum, if the profit share in GDP hits its long term average of 3.5 percent over the next five years from its all-time low current level, it gives us an annual compounded growth in earnings of 23 percent for the broad market,” Morgan Stanley said.

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Morgan Stanley said by 2030, India’s market capitalization could grow to $6.4 trillion in line with GDP growth, an annual increase of 10 percent. With accelerating earnings and reasonable relative valuations, trailing under-performance in the past five years and strong policy traction, India seems set to beat EM equity returns in the ensuing five years.

“To be sure, the journey toward a $6 trillion GDP and market cap is not without its challenges and risks. We see risks to our base case from the global growth environment, and delivery and execution of policy reforms required to support the medium-term growth trajectory,” it added.(IANS/JC)



Along with the undeniable natural beauty, the Kashmir valley has developed a reputation for adventurous activities like trekking, hiking, and river rafting. Kashmir has maintained its charm, allowing us to time-travel into beautiful destinations which make one forget about the stress and worries of life. The hikes in Kashmir offer adventurers to go on a self-discovery trip through nature's lap over the mountains while taking in the breathtaking scenery that surrounds them on their journey. In addition to the hikes, there are many thrilling adventure activities, like rock climbing, rope climbing, etc. Trekking across the region of mountains and lakes will allow you to experience living in the "Paradise on Earth," and you wouldn't want to return to your regular life after that.

The following are some of the finest hiking destinations in Kashmir:

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Pind Daan at Jagannath Ghat, Kolkata.

The Pitru Paksha starts after the Full Moon day, and this day marks the beginning of the waning phase of the Lunar cycle. This event is roughly of 15-day period, and is of great significance. From this day, rituals like Tarpan or Tarpanam and Shradh are carried out to pay respects to dead relatives and ancestors.

It is believed that from the very first day till the last day, the unhappy souls of the deceased return to the Earth to see their family members. So, in order to ensure that the dead attain Moksha, i.e. to get liberation, family members of these souls quench their thirst and satisfy their hunger by performing the Pind Daan, which includes offering food consisting of cooked rice and black sesame seeds. The literal meaning of Pind Daan is the act of satisfying those who no longer exist physically.

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Cubbon Park is a lush green garden at the heart of Bangalore

At the heart of Bangalore city, a large 300-acre space of lush greenery and heritage stands as a symbol of the city's past, present, and future. Cubbon Park is every child's favourite park, every Bangalorean's haven of fresh air, and altogether, the city's pride.

It stands testament to the past, in terms of the diversity of flora it houses. Bangalore traffic in the recent past has grown into a menace, but the stretch between MG Road and Cubbon Park is always a pleasurable place to stop and wait for the signal to turn green. The gust of wind that blows here, and the smell of mud, coupled with floral scents instantly transports citizens to Old Bangalore, where the weather was fine, and the trees loomed over roads with thick canopies that did not even allow rainwater to penetrate. Cubbon Park is also a historical site, and one of the few remaining monuments of colonial heritage in Central Bangalore. It houses many statues and among them, the most famous is that of Queen Victoria, which faces the St. Mark's Square.

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