India has achieved another feat by overtaking Hong Kong to become the 4th largest stock market in the world. The total value of listed shares in the Indian market reached $4.3 trillion as of Monday’s close, whereas Hong Kong’s market stood at $4.39 trillion. This makes India’s BSE the 4th biggest market in the world. The country reached the $4 trillion mark on Dec 5, 2023, with about half of it accumulating in the last 4 years.
India is the most populous country and the fastest-growing economy in the world. Thanks to the political setup in India, the country has positioned itself as an alternative to China by attracting fresh investment from foreign investors and foreign companies to set up their plants and manufacturing units in India. Recently, iPhone manufacturer Foxconn decided to set up an iPhone manufacturing facility in India.
It is worth mentioning that the timing couldn’t be any better for India, as the country’s historic stock price rally coincided with a huge slump in Hong Kong’s market, where all the big companies of China are listed. However, experts believe this situation can rebound very soon, and Hong Kong can regain its place. According to experts, the stocks that are down in Hong Kong’s market have huge potential once sentiment turns. On the other hand, many experts claim that the stocks listed in India are currently expensive and will go a bit down soon.
For now, India is the 4th largest stock market in the world with a valuation of over$4.3 trillion, which is a huge milestone for the country and shows their aspiration to become a world leader or, as the country likes to say, “ Vishv Guru”.
