India’s future like China’s past: Why Morgan Stanley changed its pecking order in Asia
“Consider that household debt/GDP in India is just 19% vs. 48% for China and that only 2% of Indian households have life insurance. Manufacturing and services PMIs have rallied consistently since the end of Covid restrictions in contrast to the rapid fade seen in China. As well, real estate transaction volumes and construction have broken out to the upside,” the analysts said in a report.
