The new Middle Kingdom – Why Banyantree thinks India is like China in 2006

• Banyantree Investment Group growth says India has all the elements for long-term growth
• India has just hit that US $2000 GDP per capita mark, typically an inflection point for any economy
• For strong growth fiscal and monetary policy must support prosperity flowing through entire population

For many Australians, India conjures images of a land steeped in ancient history and vibrant culture, while the two nations share a long history of cricketing rivalries and camaraderie.

Indian cuisine has made a significant impact on Australian palates, while India has also been growing its strategic position in the Indo-Pacific region and becoming more known for its economic and political clout. It is a founding member of the BRICS bloc of developing nations and is current chair of the G20.

According to the World Economic Forum (WEF) 2023 saw India overtake China as the country with the world’s largest population and was this month represented at Davos 2024, the annual meeting of the WEF in Switzerland.

Furthermore, the United Nations Development Programme says India saw a “remarkable reduction in poverty, with 415 million people exiting poverty within a span of just 15 years…