India retains second spot among emerging markets in November, trails China: Mint tracker
Subscribe to enjoy similar stories. India retained its second rank among emerging market peers in November, driven by a modest depreciation in the rupee, robust manufacturing activity, and steady GDP growth, according to Mint's Emerging Markets Tracker. However, a weaker stock market performance, a decline in exports, and an unfavourable inflation reading prevented India from clinching the top spot.
Read this | How the Indian economy fared in 2024, in 9 charts India’s average monthly stock market capitalization dropped 4.6% month-on-month, while exports declined by 4.8% year-on-year during the month. Inflation pressures also weighed on the overall score. India narrowly trailed China, which secured the top spot thanks to a significant boost to its stock market following fiscal stimulus measures introduced in September and November to support its struggling economy.
China's average monthly stock market capitalization rose 2.5% month-on-month, tipping the scales in its favour. Also read | India’s trade braces for an action-packed 2025 Indonesia climbed to third place, surpassing Thailand, buoyed by solid export growth and stable inflation. Launched in September 2019, Mint’s Emerging Markets Tracker provides a summary of economic activity across 10 large emerging markets based on seven high-frequency indicators: real GDP growth, manufacturing PMI, export growth, retail inflation, import cover, exchange rate movement, and stock market.
The rankings are provisional as the scores will get updated once all latest data is available. Methodology note: The tracker is a monthly summary of economic activity across nine large emerging markets based on seven high-frequency indicators. Latest available data is used. On each indicator,
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