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Home >News >India >India rises to the top of EM league tables, displacing China

India rises to the top of EM league tables, displacing China

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Representational image. India may however find it difficult to hold onto the top rank in the coming months.

India may however find it difficult to hold onto the top rank in the coming months as the new covid wave seems to have affected India far more than other countries

For the first time in the post-pandemic period, India reached the top of Mint’s emerging markets tracker in March, the latest data shows. Strong manufacturing momentum, healthy export growth, and buoyant stock markets pushed up India’s rankings in the league table that tracks 10 large emerging markets across seven key parameters each month.

India may however find it difficult to hold onto the top rank in the coming months. For one, the rankings till March only capture gross domestic product (GDP) figures till the December quarter since most emerging markets have not announced their March quarter numbers yet. When they do, and the rankings are recalibrated, China could rise to the top once again. China is the only country in the list of emerging markets that has released March quarter estimates, recording a whopping 18% year-on-year growth. Other markets may struggle to match that figure, even on a low base.

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