Mumbai set to be new anchor for EM equities

Solid growth: People seen inside the National Stock Exchange in Mumbai. India is benefiting from the infrastructure boom brought about by Modi’s modernisation projects, according to analysts. — Reuters

MUMBAI: India is poised to narrow the gap with China in MSCI Inc’s gauge for developing nations.

Analysts from firms, including Smartkarma and IIFL Securities Ltd, expect India’s weight in the MSCI Emerging Markets Index to rise by at least one percentage point following the index provider’s review this week.