Acclaimed investment advisor will form an investment company in which Rockefeller Capital Management will be a partner.
Served for 25 years, is currently head of emerging markets and chief global strategist at the firm
Sharma joined Morgan Stanley Investment Management in 1996 and is the author of bestsellers including 'Breakout Nations' in 2012
Sharma, who is the author of bestsellers including "Breakout Nations" in 2012 and "The Rise and Fall of Nations" in 2016, isn't predicting a global bust
Ruchir Sharma, chief global strategist with Morgan Stanley Investment Management, says the public sector's presence in India's economy is both overwhelming and a holding-back factor, citing the example of state-owned banks. Delivering a lecture on leadership, organised by business chamber Ficci to mark its 90th anniversary this year, Sharma said the public sector's share in banking was two-third, way above the average of one-third in emerging markets.He outlined 10 rules for assessment over five years to determine an economy's current and future outlook. These parameters are what he described as politics, role of the state, income inequalities, concentration of wealth from a geographical standpoint, investment, inflation, the exchange rate, debt, demographics, and the 'curse of the cover story'. In India, the state remains meddlesome, he said. Thus, India has a low rank of two to three on this, on a scale of one to 10. Sharma said a country's economic performance tends to deteriorate .
Falling population growth means every class of countries needs to adopt a new math of economic success