India Ranks Fifth in the Global Economy

India has once again secured the 5th position in the global economy. India has surpassed France to move ahead. According to a Bloomberg report, India’s market capitalization has reached $3.15 trillion. As a result, while France has slipped down, Britain has retained its previous 7th position. From the perspective of employment growth, the equity growth in South Asian countries has helped in reviving the markets, although the Indian market value has remained 6% lower since January 24. Steps taken by the Adani Group have helped in partially recovering the value of its shares, thereby restoring some investor confidence. However, the Adani Group still remains $120 billion below its previous market capitalization. After pulling out capital from Indian equities since November, foreign investors have turned into major buyers in two out of seven sessions up to February 9 this month.