India is already booming, and could grow 10% annually over the next decade, Lehman Brothers Asia, a US-based brokerage said. For the fiscal year ending in March, the economy expanded 9.4%. It has averaged annual growth of 8.6% over the last four years.
According to the report, India’s equity market will outperform developed and emerging market indices over the next five years, and the Indian rupee will appreciate significantly against the US dollar.
India’s economy touched the $1 trillion mark in April because of the strengthening rupee against US dollar.
Organization of Economic Cooperation and Development said India would be able to meet its target of 10% GDP growth by 2010 if it pushed ahead with privatization and improved infrastructure, a key stumbling block.
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