As coronavirus disruptions rocked emerging markets in February, India climbed to the second spot, Mint’s latest Emerging Markets Tracker shows
India climbed three rungs to the second position among key emerging markets in February and stood just behind Philippines last month, the latest update to Mint’s Emerging Markets tracker shows.
India’s rise was as dramatic as China’s fall, which slid five rungs to the seventh spot among the ten markets considered by the tracker. Economic disruptions caused by the novel coronavirus outbreak led to China’s fall. Supply chain disruptions meant that other Asian economies too suffered.
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Given that India is relatively less integrated with Chinese supply chains compared to other emerging markets, India emerged relatively unscathed last month. But as the contagion spreads, and asset prices crash globally in anticipation of larger disruptions, India’s own economic position could shift sharply in the coming months.
Source: livemint
