According to a PTI report, US financial services major Morgan Stanley reckons that the Indian economy may grow at a robust pace in the coming decade underpinned by strong policy reforms and improvement in macro-economic indicators.
Morgan Stanley sees Asia's third biggest economy crossing the USD 5 trillion mark by the year 2025.
The US banking and financial giant said in a report that India's real gross domestic product (GDP) could grow at an average 6.75 per cent over the next decade.
"In our base case, we expect a steady pace of implementation of policy reforms, which will lay the foundations for the country's real GDP growth to move higher to an average of 6.75 per cent over the next 10 years," Morgan Stanley said, the PTI reported.
If the Indian economy crosses the USD 5 trillion mark, India could become the fifth biggest economy in the world, compared to tenth at present, Morgan Stanley said, the PTI reported.
Morgan Stanley sees slow pace of economic growth in the coming 12 months with the Indian economy set to pick up by FY 2016.
A new and a stable government at the centre may kick-start long-stalled reforms and help accelerate economic growth.