⚡ Can India’s Digital Revolution Drive Global Growth?
(Digital Economy Insights) // Macro Mornings - IndiaGrowth, PrivateEquity, DigitalEconomy, Macro, Finance, Investing
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A Growth Powerhouse
6.5% Projected GDP Growth: India’s GDP is expected to grow at 6.5% annually over the next decade, making it the world’s fastest-growing large economy - mirroring China’s growth trajectory from 2010-2020, when its GDP averaged 6.6%.
Population Surpasses China: India recently overtook China in population size, with 1.427 billion people in 2022, and this demographic advantage is expected to fuel sustained growth and investment inflows.
The Digital Revolution
100 Billion Digital Transactions: In 2023, India processed over 100 billion digital transactions, positioning it as the leader in global digital payments, a staggering increase from just 22% mobile penetration in 2010 to 89.2% in 2022.
SaaS Expansion: India’s share of the global SaaS market is projected to grow from 5% in 2022 to 8% by 2027, thanks to its large pool of 3 million developers and cost advantages - 50-70% lower salaries compared to U.S. developers.
Investment Realities
INR Depreciation Slows: After a 50% depreciation of the Indian Rupee between 2007 and 2013, recent trends show a more controlled depreciation of 4% per year, with expectations of a further slowdown to 2% annually going forward.
$9 Billion in PE Investments: In 2023, international investors, including Temasek and GIC, poured $9 billion into India’s private equity market, reflecting renewed confidence despite previous concerns around currency depreciation and high valuations.
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Disclosure
This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. This material has been prepared for informational purposes only. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation.