According to Morgan Stanley’s chief economist, Stephen Roach: “India is on the cusp of something big.” Roach professes to be as excited about India as he was about China in the late 1990s. The source of this excitement is the country’s burgeoning consumer sector, which, as a share of GDP, is already higher than that of Europe, Japan and China.
Athough, in absolute terms, India’s per capita income and consumption levels are about half those of China’s, it is the pace at which private consumption is growing, and its dynamic effect on economic growth, that prompts Roach’s excitement.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
