New Delhi, May 31 (KNN) According to a latest Morgan Stanley Research, India gained positions in the world order in a short span of 10 years with significant positive consequences for the macro and market outlook.

The report titled India Equity Strategy and Economics: How India Has Transformed in Less than a Decade, highlights the 10 big changes, mostly because of India's policy choices, and their implications for its economy and market.

Calling the current India different from what it was in 2023, the report said, “In a short span of 10 years, India has gained positions in the world order with significant positive consequences for the macro and market outlook. We present a snapshot of these changes and their implications.”

“We run into significant skepticism about India, particularly with overseas investors, who say that India has not delivered its potential (despite its being the second-fastest-growing economy and among the top-performing stock markets over the past 25 years) and that equity valuations are too rich.” It added,

“However, such a view ignores the significant changes that have taken place in India, especially since 2014,” it said.

While filing the report Morgan Stanley's Research had taken these 10 big changes namely, supply-side policy reforms, formalisation of the economy, Real Estate (Regulation and Development) Act, digitalizing social transfers, Insolvency and Bankruptcy Code, flexible inflation targeting, focus on FDI, India's 401(k) moment, government support for corporate profits and MNC sentiment at multiyear high.

It gathered the figures related to India's corporate tax at par with peers and infrastructure while drawing the data for supply-side policy reforms.

In 10 years, India's base corporate tax rate has stayed below 25 per cent while for new companies with operations commencing before March 24, it has stayed at 15 per cent.

In terms of infrastructure development, the research has taken factors like national highways, broadband subscriber base, renewable energy and railway route electrified.  (KNN Bureau)