New Delhi, May 5 : Global brokerage Morgan Stanley has reaffirmed its positive long-term outlook on Indian equities, highlighting that India is likely to outperform in a global bear market scenario.

According to a note by the brokerage, the opportunity to invest in India's long-term structural growth story is now, though it will require patience, given the potential.

The global financial services major believes that while near-term volatility may persist, "the long-term reward outweighs short-term noise".

The firm advises investors to stay focused on India's domestic growth story and selectively build exposure - particularly in domestically driven sectors -during periods of market stress.

The macroeconomic environment remains challenging worldwide, with risks such as decelerating global growth, central bank policy shifts, and geopolitical tensions casting a shadow.