Compared with a year-and-a-half ago, when its economy had just begun to reopen after a devastating surge of the Delta variant, India’s stock market is unchanged in dollar terms. And yet, its weight in the MSCI Emerging Markets Index (MSCI EM) has zoomed past Taiwan and South Korea to second place, with almost the entire gain coming at the expense of the gauge’s biggest constituent: China.
Compared with a year-and-a-half ago, when its economy had just begun to reopen after a devastating surge of the delta variant, India's stock market is unchanged in dollar terms.