India drops to third spot in MSCI EM index amid rout in Adani group stocks

Red-hot Taiwanese market, Adani rout erode India's weighting

India’s ranking on the MSCI (Morgan Stanley Capital International) Emerging Markets (EM) Index, which is said to be tracked by passive funds with assets under management of more than $350 billion, has slipped, following last month’s underperformance amid rout in Adani Group shares.

With a weighting of 12.97 per cent, India is now ranked third after China and Taiwan which have a weighting of 33.49 per cent and 14.42 per cent, respectively, according to the factsheet released by the global index compiler.

At the end of December 2022, India had a weighting of 14.44 per cent and occupied second place