Morgan Stanley, an American multinational investment bank and financial services company, has said in its research report that India has transformed in less than a decade. It has changed in many ways in less than a decade under the leadership of Prime Minister Narendra Modi. At the same time, it is moving towards achieving a place in the world system. The American brokerage company has thrown light over a number of positive changes taken place in India during last 9 years.
According to a Morgan Stanley report, India is poised to play an important role in Asian and global growth. The report says that India has become stronger in less than a decade. This India is different from 2013, which has carved its niche in the world order in a short span of ten years.
The brokerage company has mentioned 10 major changes that have taken place since 2014 after Prime Minister Modi assumed office. According to the report, the corporate tax rate in India has been made at par with other countries.
In addition, investment in infrastructure is increasing. The report states that the collection of Goods and Services Tax (GST) is continuously increasing. Along with this, digital transactions as a percentage of gross domestic product (GDP) are increasing, which is a sign of an organized economy.
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