New Delhi, Aug 19 : Equities are best positioned to benefit from India's structural growth, according to a report by Standard Chartered Bank. 'We expect the current equity cycle to be analogous to the 2003-2008 bull cycle when output growth rose sharply, inflation stayed stable and improvements in productivity drove a a rise in investments. "Fixed income to continue to offer a stable yield as domestic bond yields remain well-anchored given the focus on investment-led growth and containing inflation," the report said. Private markets to provide long-term alpha over listed assets supported by a positive economic outlook and structural enablers such as large consumption opportunity and best-in class digital infrastructure, it said. India's economy has weathered the pandemic-era growth shock better than its peers and has the potential to successfully transition into an upper middle-income economy over the next two decades. Ongoing policy reforms, political stability, significant infrastructure investments and technological adoption are likely to aid improvements in per-capita income, boost discretionary consumption demand and enhance corporate profitability, the report said. 'We believe this superior macroeconomic backdrop sets up Indian financial market assets -- equities, fixed income and private markets -- to perform well on a multiyear horizon," it said. /IANS