Emerging markets have played subservient role to the tech-savvy US market in the last few years, but things are swiftly transforming.

Recent estimates from the International Monetary Fund (IMF) forecasts Asia and emerging markets to grow by 4.6% in 2023, compared to global growth of 2.8%.

India is grabbing the attention of investors for a lot of reasons.

Morgan Stanley estimates that India may become the world’s third largest financial state within the next five years. Its GDP is expected to double over the 10 next years from US$3.5trn to US$8.5trn as it compounds at an annual growth rate of about 6.5%.

Indian stock market is spectacular too. Goldman Sachs’ analysis of 10 major markets across surfacing and developed markets found that more than half of the National Stock Exchange of India contains 10-baggers, stocks that have generated at least 10 times total returns within a rolling 5-year period over the past two decades.

India also has an expanding middle class. Some evaluate that there are about 432 million middle-class Indians – approximately one in every three people. This usually inflates a country’s purchasing power and drives consumer essentials profits.