Indian economy outlook: Morgan Stanley sees India emerging as top consumer market; energy transition and manufacturing boost ahead

Morgan Stanley reports India is poised to become the world's most attractive consumer market, fueled by a major energy transition and increased manufacturing contribution to GDP. Fiscal consolidation, rising exports, and lower oil intensity are expected to reduce saving imbalances, leading to structurally lower real interest rates. Improved macroeconomic stability and household portfolio diversification underpin this positive outlook.