China tops emerging markets league table, India at third position -Tauseef Shahidi
Growth in exports, easing inflation, and higher manufacturing activity have lifted India to the top half of Mint’s Emerging Markets Tracker for the first time in four months
India climbed five spots to attain the third position among key emerging markets in January, the latest update to Mint’s emerging markets tracker shows. Rising exports, falling inflation, and greater manufacturing activity boosted India’s rank in January although it still remains a few notches below China.
Merchandise exports rose 6.2% in January from a year earlier to $27.45 billion, the second consecutive month of export growth. The rise in India’s exports are in line with trends globally, wrote analysts from Nomura in a note dated 2 February based on the provisional export numbers. While volumes improved, exports also benefited from rising commodity and input prices globally. Indonesia and Brazil, the other two countries to have reported their export figures in January, also recorded a growth of 12.2% and 2.2%, respectively, in their merchandise exports.
On account of faster rise in output, sales, and exports, India’s manufacturing PMI (purchasing managers’ index) reached a 3-month high of 57.7, the best figure among emerging market peers.
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Livemint.com, 17 February, 2021, https://www.livemint.com/news/world/china-tops-emerging-markets-league-table-india-at-third-position-11613540885305.html