According to Morgan Stanley, India’s economic growth is reminiscent of the period from 2003 to 2007, with growth averaging over 8 percent.

 They noted that after a period of declining investment to GDP over the past decade, capital expenditure (capex) has become a significant driver of growth in India. 

This current expansion closely mirrors the one from 2003-2007, with the investment-to-GDP ratio on the rise. The report also highlights that private capex is now starting to catch up with public capex, leading to an increase in the investment-to-GDP ratio. 

Overall, Morgan Stanley predicts that this trend will continue with investment expected to rise further in the coming years.

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