India's market cap can ‘easily' jump ten-fold in the next two decades, economist says
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India's market capitalization can easily grow to $40 trillion in the next 20 years, driven by stronger investor confidence and robust economic growth, according to analysts. The country's market is currently ranked the fourth largest in the world, valued at over $4.6 trillion. Sujan Hajra, chief economist at Anand Rathi Share and Stock Brokers, believes India can hit $40 trillion by that time, citing strong economic growth and a stable currency. Manish Chokhani, director of investment services firm Enam Holdings, is even more bullish and predicts Indian markets could surge to $60 trillion in the next two decades. India's benchmark Nifty 50 index soared 20% in 2023. India's GDP grew 7.2% for financial year 2023 and is estimated to grow 7.6% in financial year 2024. China's economic growth has not led to stock market appreciation in recent years. India has the largest number of listed companies globally at over 6,000. Despite high valuation multiples, analysts recommend India as part of an investor's core allocation, with a focus on large cap stocks and the financial services sector.

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https://www.cnbc.com/2024/04/09/indias-market-cap-can-easily-jump-ten-fold-in-the-next-two-decades-economist-says.html