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Morgan Stanley’s managing director and chief India equity strategist, Ridham Desai explains the fundamental macroeconomic transformation that has made him turn bullish on India after years of caution. From reducing oil dependency and improving the current account deficit, to the rise of Global Capability Centres (GCCs) and structural FDI inflows, Desai breaks down how India’s external position has strengthened, and why this shift could redefine India’s long-term growth story.