There is a major shift occurring in global markets as investors pull billions of dollars out of China's slowing economy and redirect funds to India. After years of betting on China as the biggest growth story, Wall Street firms such as Goldman Sachs and Morgan Stanley are now endorsing India...
Morgan Stanley: India to Become World’s Third-Largest Economy by 2030
In a report titled ‘The New India: Why This Is India's Decade", Morgan Stanley said India has the conditions in place for an economic boom. It could account for 20 percent of the growth that the world will generate. Ridham Desai, head of India-Equity Research, as well as the India...
Morgan Stanley: India Likely to Be Fastest-Growing Asian Economy Again
According to analysts at Morgan Stanley, India could emerge as Asia's strongest economy in 2022-2023. The brokerage expects India's growth to average 7% during this period - the highest among the largest economies - and contributing 28% to Asian growth and 22% to global growth. "The economy is set for...
Morgan Stanley Invests in India's Manipal Health
New York City headquartered Morgan Stanley's India Infrastructure arm will invest $14 million in Bangalore-based Manipal Health Enterprise Private Limited. HealthMaP Diagnostics Private Limited, a joint venture between Manipal Health and Philips India Limited, will use the capital to expand its presence to 75 centers in the next three years....
India's GST Council Caps Tax at Source at 1% for E-Commerce
The Goods and Services Tax (GST) Council has decided "to provide for up to 1 percent Tax Collected at Source" for e-commerce companies, a senior government official explained. The supplier of goods can set off the tax against its final GST liability, and so theoretically, the levy can be even...
Dramatic Changes Predicted at Future of Asia Conference
According to the Los Angeles World Affairs Council's (LAWAC) Future of Asia Conference that took place on September 15 and 16, "Asia is a continent where the stakes are rising rapidly - both in economic promise and expansion of individuals' horizons, but also in environmental and security challenges." 57 speakers,...