The Sunday Brew #30
In this brew - Morgan Stanley reports on Indias transformation, Japan wars OpenAI over data collection, US Debt Ceiling raised and WeWork India to outgrow US parent
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TOP STORY
Morgan Stanley reports on India’s transformation
Earlier this week, Morgan Stanley published a research report titled “How India Has Transformed in Less than a Decade” which discusses the economic and social changes that have taken place in India over the past decade. The report also discusses the implications of these changes for India's future.
As per the report, here are the 10 major changes that have transformed India's economy and markets in less than a decade:
Supply-side policy reforms: India has implemented a number of supply-side reforms, such as reducing corporate taxes, simplifying the regulatory environment, and improving infrastructure. These reforms have made it easier for businesses to operate in India, and they have helped to boost economic growth.
Formalization of the economy: India has seen a significant increase in the number of formal businesses in recent years. This is due to a number of factors, including the government's push for digitization and the growth of the e-commerce sector. The formalization of the economy has helped to increase tax revenues and improve the productivity of the economy.
Real Estate (Regulation and Development) Act: The Real Estate (Regulation and Development) Act was passed in 2016. This law has helped to improve transparency and accountability in the real estate sector. It has also made it easier for buyers to purchase property in India.
Digitalizing social transfers: India has implemented a number of digital programs to deliver social transfers, such as scholarships and pensions. These programs have helped to reduce corruption and improve the efficiency of social spending.
Insolvency and Bankruptcy Code: The Insolvency and Bankruptcy Code was passed in 2016. This law has helped to improve the resolution of stressed assets in India. It has also helped to improve the credit environment and make it easier for businesses to access financing.
Flexible Inflation Targeting: India adopted a flexible inflation targeting regime in 2016. This regime has helped to keep inflation under control and has created a more stable macroeconomic environment.
Focus on FDI: India has made a concerted effort to attract foreign direct investment (FDI). The government has streamlined the FDI approval process and has offered a number of incentives to foreign investors. As a result, FDI inflows into India have increased significantly in recent years.
India's 401(k) Moment: India has seen a significant increase in the number of mutual fund investors in recent years. This is due to a number of factors, including the government's push for financial literacy and the growth of the e-commerce sector. The increase in mutual fund investors has helped to deepen the capital markets and improve the savings rate in India.
Government support for corporate profit: The government has provided a number of support measures to corporates in recent years. These measures have included tax breaks, subsidies, and bailouts. The government's support for corporate profit has helped to boost investment and economic growth.
MNC Sentiment at Multiyear High: The sentiment of multinational companies (MNCs) towards India is at a multiyear high. This is due to a number of factors, including India's strong economic growth, its large and growing market, and its skilled workforce. The positive sentiment of MNCs towards India has helped to attract more foreign investment into the country.
India's transformation is a remarkable achievement, and it is a testament to the country's resilience and potential. India is well-positioned to continue to grow in the years to come, and it is poised to become a major player in the global economy.
You can download the report here
Join the conversation by sharing your views in the comments.
WEEK IN THE NEWS
Japan warns OpenAI over Data Collection
Japan's privacy watchdog has warned OpenAI, the company behind the ChatGPT chatbot, over its data collection practices. The Personal Information Protection Commission (PPC) said that OpenAI should minimize the amount of sensitive data it collects from users and should obtain consent before collecting any personal information. The PPC also said that OpenAI should take steps to protect the data it collects from unauthorized access, use, or disclosure. Read More »»»
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US Debt Ceiling raised, avoiding Default
The US Senate voted to raise the debt ceiling by $480 billion on Tuesday, avoiding a default that would have plunged the country into economic chaos. The vote was 50-48, with all Democrats and 11 Republicans voting in favor. The move came after weeks of negotiations between Democrats and Republicans, who had been deadlocked over the issue. Read More »»»
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WeWork India's Valuation May Overtake Troubled US Parent
WeWork India's valuation is on track to overtake its troubled US parent. The Indian arm of the coworking space company is expected to generate nearly Rs 375-400 crore in EBITDA during the year. This, combined with its revenue run rate of around $200 million, could see its valuation reach $400 million, surpassing the market cap of its US parent. WeWork India's success is being driven by the growth of the Indian startup ecosystem and the increasing demand for flexible workspaces. Read More »»»
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