(MENAFN) India was the weakling of the emerging markets clan three years ago, politically stagnant and struggling to grow, but as gloom engulfs other developing economies, the subcontinent is enjoying a moment in the sun.
Brazil and Russia are already lying in deep in recession and South Africa is teetering on the brink after demand for raw materials collapsed, while alarm bells have sounded over fears the China beast may be uncertain.
Back to India, while low-cost oil and a new way of calculating growth have added shine to India's GDP figures, its exports remain poor and shares on the Bombay Stock Exchange suffer five percent below a year ago.
Moreover, as chaos trembled global markets this summer, wiping trillions of dollars off world exchanges and leading investors to flee emerging economies, India has escaped comparatively unharmed.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.