A great read from Professor Bakshi.
A lot of attention is paid to this market cap/GDP ratio and what it means for the relative cheapness or expensiveness of a market. However, not enough attention is paid to the size of the opportunity in India , how it has grown over time, and how that opportunity will become exponentially larger if the prediction about India’s future economic growth, made by Mr Sanyal and many other commentators, turns out to be roughly right. Just think about this for a moment: If India’s GDP reaches the $29-33 trillion range by 2047, India’s market cap will also increase from the current $5 trillion to $30 trillion, or thereabouts.
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