MACRO OUTLOOK---->India Still No. 1 Among Emerging Markets
India has once again topped the Emerging Markets Tracker, retaining the No. 1 position for the third consecutive month in July.
The latest tracker, based on data available up to 24 August 2026, compares 12 major emerging economies across growth, manufacturing activity, exports, inflation, currency movement and stock-market performance.
India's Score: 77.3
And the next two:
Vietnam: 73.2
Malaysia: 73.1
India is clearly ahead, but the real story lies in why.
##Why Is India Ranked No. 1?
India's strongest advantage is its combination of high economic growth + strong exports + healthy manufacturing activity + strong domestic market performance.
Real GDP Growth: 7.8%
India recorded 7.8% real GDP growth, one of the strongest growth rates among the 12 economies tracked.
This shows that India's economic expansion remains significantly stronger than most emerging-market peers.
##Manufacturing Still Expanding
PMI Manufacturing: 53.5
Exports Are Another Big Strength
Export Growth: 19.5%
Inflation Remains Under Control
CPI Inflation: 4.5%
----->But India Isn't Perfect
The tracker also highlights some areas where India isn't leading.
Exchange Rate Movement: -0.9%
The Indian rupee has weakened against the US dollar on a month-on-month basis.
##India vs Other Emerging Markets (SCORE)
India — 77.3
Vietnam — 73.2
Malaysia — 73.1
Thailand — 62.3
China — 61.6
------>Stocks to Keep on the Radar
MANUFACTURING-