New Delhi, Nov 2 (KNN) The Indian economy is expected to become the third-largest economy by the end of this decade owing to the increase in manufacturing investments, energy transition, its advanced digital infrastructure, said a report by Morgan Stanley.

The report is titled as ‘Why This Is India’s Decade’ and it looked at the trends and policies shaping the future of India’s economy.

According to the global investment bank, India is gaining power in the world economy and in its opinion, these idiosyncratic changes imply a once-in-a-generation shift and an opportunity for investors and companies.

Emphasising on the term New India the report said the four global trends — demographics, digitalization, decarbonization and deglobalization are favouring it.

“It said India would drive a fifth of global growth through the end of 2030,” said the report.

India’s per-capita income, it said, would rise from USD 2,278 now to USD 5,242 in 2031, setting the stage for a discretionary spending boom.  (KNN Bureau)