The average income in India keeps growing exponentially every year. By 2030 India's income is expected to hit 4000 dollars per year and 9500 dollars by 2040, which would be significantly up from 2500 per year today.
Wouldn't this mean that Indias banks will make more money every year, as the average Indian and business will be holding more money in Indian bank accounts? Due to this wouldn't Indian banks record record profits from this excess in money, and wouldnt that drive the share price up? Wouldn't this be similar to buying JP morgan stock back when the United States was not that developed?
I am a noob in individual stock picking, so thank u for the help!
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