India is entering a period of self-sustaining expansion as prior reforms create a virtuous cycle of growth. This could drive nominal gross domestic product (GDP) growth as high as 10% annually in the coming decade. Voters in the country go to the polls in 2024 amidst a general election which the incumbent Bharatiya Janata Party (BJP) and Prime Minister Narendra Modi are expected to win. We have identified three primary drivers of growth which are linked to our investment themes of rising demand for financial services, infrastructure investment, consumerism and the green transition in India.
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