India’s stock market value reaches $4 trillion

India’s market value, the fifth largest market around the world, is approaching $4 trillion for the first time, thanks to increased investment by individual investors and renewable foreign flows.

Shares on India’s stock exchanges have doubled in value since reaching their lowest level as the coronavirus pandemic emerged in March 2020, reaching less than $4 trillion yesterday, according to data compiled by Bloomberg.

India’s NSI Nifty 50 index jumped 2.1% yesterday, leading gains in Asia, after Prime Minister Narendra Modi’s ruling party won three crucial state-level elections.

The victories removed an element of investors’ political risk by strengthening Modi’s position ahead of the upcoming nationwide polling next year, increasing bets on the continuity of the government’s economic policies.

India’s equity market achievement comes at a time when the world’s fastest-growing large economy presents itself as an alternative to China for investors and global companies alike.