India's stock market success looks set to continue

India has been the world's fastest-growing major economy for two years running.

India view of the Mumbai skyline from the Malabar district in the city centre
(Image credit: Getty Images)

With the West dogged by talk of recession and China flagging, “India has emerged as a much-needed global good news story”, says Craig Mellow in Barron’s. The local BSE Sensex stock index rose by 18.5% in 2023 and has more than doubled since the pandemic-era lows of 2020. Pro-business prime minister Narendra Modi is likely to win a third term this spring, so expect “the good times... to keep rolling in 2024”.

The “sizzling rally” recently saw the National Stock Exchange of India, one of the country’s two exchanges, surpass Hong Kong as the world’s seventh-largest, says Diksha Madhok for CNN. By total value, Indian stocks already rank fourth globally, behind the US, China, and Japan.

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Markets editor

Alex is an investment writer who has been contributing to MoneyWeek since 2015. He has been the magazine’s markets editor since 2019. 

Alex has a passion for demystifying the often arcane world of finance for a general readership. While financial media tends to focus compulsively on the latest trend, the best opportunities can lie forgotten elsewhere. 

He is especially interested in European equities – where his fluent French helps him to cover the continent’s largest bourse – and emerging markets, where his experience living in Beijing, and conversational Chinese, prove useful. 

Hailing from Leeds, he studied Philosophy, Politics and Economics at the University of Oxford. He also holds a Master of Public Health from the University of Manchester.