India's consumer sectors are also likely to add about $1.5 trillion over the next 10 years.
Morgan Stanley echoed Mukesh Ambani's sentiments over Indian Economy. In its report, Morgan Stanley said India's digitisation drive would provide a boost of 50-75 basis points to GDP growth in the coming decade.
"We estimate that digitisation will provide a boost of 50-75 basis points to GDP growth and forecast that India will grow to $6 trillion economy and achieve upper-middle income status by by 2026-27," Morgan Stanley head India research and India equity strategist Ridham Desai said.
"We expect India's real and nominal GDP growth to compound annually by 7.1% and 11.2% respectively over the coming decade," he added.
Citing the report 'India's digital leap - The multi-trillion dollar opportunity' released today, Desai said apart from some short term teething problems including implementation of GST, there is scope for visible shifts in economic activity starting in 2018 which would eventually lead India to be the top five equity markets in the world with a market capitalisation of $6.1 trillion and the third-largest listed financial services sector around the globe with a market cap of $1.8 trillion by 2027.
India's consumer sectors are also likely to add about $1.5 trillion over the next 10 years.
"We project gross FDI inflows amounting to USD 120 billion by FY'27, almost double the current 12-month trailing run rate of $64 billion," Desai said.
On Wednesday, speaking at the 3-day long India Mobile Congress, Reliance Industries Chairman Mukesh Ambani also said that the Indian economy in another 10 years would rank among top three economies of the world.
"I believe Indian economy will grow to $7 trillion in next 10 years."
Mukesh Ambani's statement came amidst the widening debate over the slowdown of economy.
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