|
Morgan Stanley Asia more bullish on India than on China |
 |
According to Stephen S. Roach, Chairman of Morgan Stanley Asia, the definitive Congress win in the recent general elections has altered his outlook on India.
Though he has been more bullish on China than on India all along, he is now feeling the other way, Roach said at an investor summit, organised by his firm last week.
The Congress’ victory would make the Government more effective in pushing forward the necessary reforms, he said.
Though India has been improving on the macro-economic and micro-economic fronts, what was missing was a political impetus to reforms, said Roach. He said that he stands by Morgan Stanley’s forecast of India’s GDP standing between 5.5 per cent and 6.5 per cent for the next couple of years.
He also said that the new Indian Government has to be aggressive in infrastructure spending even if it means partially offsetting spending on other sectors. Disinvestment is also important for tackling the massive budget deficits.
|
