Summary:

India has made tremendous progress among developing countries, aided by a robust export upswing. Despite challenges such as a turbulent stock market and rupee devaluation, October recorded a 17% YoY increase in exports, signaling a strong comeback after months of poor performance. According to Mint's Emerging Markets Tracker, India rose to second place in October, driven by improvements in GDP growth, PMI, export growth, inflation, and stock market performance.

China reclaimed the top rank for the first time in 18 months, thanks to a powerful economic recovery package announced in September, which boosted its currency and stock market. Meanwhile, Thailand slipped to third place due to a decline in its PMI and weaker export growth. India's consistent GDP and PMI growth, along with an export boom in October, helped offset currency depreciation. While the rankings are provisional, they provide valuable insights into EM dynamics.

Source: IBEF

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