India is catching up on China’s spot as the largest country in a benchmark emerging-market index, underlining a quandary for global investors who are becoming increasingly exposed to its ebullient but expensive stock market.
Soaring share prices, stock sales and earnings growth by Indian companies have pushed India to just under a fifth of the MSCI emerging markets index while China has fallen to a quarter, from more than 40 per cent in 2020.
An MSCI index review scheduled for next month could elevate India to above 20 per cent, eclipsing Taiwan and putting India’s weighting directly behind China’s, investors say.
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