India slips in global market cap rankings amid AI chase
Business
India just moved down from the global market capitalization rankings, now behind Taiwan and South Korea, mostly because investors are chasing AI and tech stocks where those countries shine.
Still, India's basics are strong: think steady domestic demand and a market that isn't all eggs in one basket.
Financial services largest sector at 29%
Unlike Taiwan and South Korea, which lean heavily on tech sectors (88% of Taiwan's markets and 61% of South Korea's markets), India spreads its bets across different industries.
The biggest Indian sector, financial services, is only 29% of the pie.
This means less risk if one sector stumbles.
"Market leadership may shift with global themes, which is a normal feature of capital markets, but India's structural growth drivers remain intact,"