Indian stock markets could surpass U.K. to become the fifth largest in world: Goldman Sachs

India could surpass the U.K. and middle east to become the fifth-largest stock market in the world very soon.

As per a Goldman Sachs report, the Indian stock market could grow to more than $5 trillion, from the current $3.5 trillion, within the next three years. India’s share in the global stock market value is expected to rise from 2.8% currently to 3.7% over the next five years, according to the investment bank.

Nearly $400 billion of market cap could be added from new IPOs over the next 2-3 years, Goldman Sachs believes. Indian start-ups have raised $10 billion through IPOs so far this year — more money than was raised in the last three years.

The pipeline for future public listings is expected to remain robust over the next two years as over 150 private firms could potentially list on the stock market in the next 36 months, the report mentioned.

Food delivery firm Zomato recently became the first of prominent names to be publicly listed. Others in the pipeline include payments giant Paytm, Nykaa, Ola & edtech giant Byju's.