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‘India has arrived.' Why Modi's economy offers a real alternative to China

·1 min

For the last three decades, an investor frequently drove from the Indian capital to the city of Jaipur, taking 6 hours for the journey. However, a new expressway last year allowed them to complete the trip in half the time. This improved infrastructure is one reason investors are optimistic about India’s growth prospects. While China is facing economic challenges, India’s stock market is hitting record highs and its market value is expected to double by 2030. India’s development under Prime Minister Narendra Modi has caught the attention of financial professionals worldwide. The country’s emergence as a potential replacement for China as a driving force in global growth is gaining attention. Despite the challenges of high valuation and limited capacity to absorb investments, India’s domestic investor-driven rally, along with its healthy international relations, reduces its dependence on foreign funding and insulates it from global dynamics.