India outperformed China in MSCI's key stock market index for the first time ever.
Points of attention
- India has overtaken China in share prices in the stock market, marking a significant milestone fueled by sustained economic growth and strong investments.
- The MSCI index of Indian companies rose by 2.35%, outperforming Chinese companies, showcasing India's economic prowess.
- India's strategic role in supplying military ammunition to EU countries, particularly for transfer to Ukraine, has garnered attention amidst tensions with Russia.
- Indian arms manufacturers have increased exports of military products, with plans to further boost sales to $6 billion by 2029.
- The rise of Indian ammunition exports to countries like Italy, the Czech Republic, and Spain underscores India's growing presence in the global defense industry.
What is known about India overtaking China in share prices
It is noted that the growth of shares of Indian companies was facilitated by steady economic growth and strong investments.
This index shows quotes for securities of companies with large, medium and small capitalization.
In particular, the MSCI index of Indian companies rose by 2.35%.
At the same time, the similar indicator for companies from China remains at the level of 2.24%.
In addition, it is emphasized that the nominal growth rate of India's GDP will exceed the similar rate in China three times.
As a result, this leads to serious discrepancies in terms of earnings growth.
India's weighting in this index is expected to increase due to market performance, improved liquidity etc.
What is known about India's supply of ammunition to the EU for further transfer to Ukraine
According to Reuters, Indian arms manufacturers have been supplying ammunition to EU countries for more than a year, which are then sent to Ukraine.
At the same time, Russia expresses an active protest against such supplies, but the Indian leadership does not interfere in the sales process.
At the same time, interlocutors from the Indian government noted to the journalists of the publication that the country produced a relatively small amount of ammunition, which was later received by Ukraine.
According to one of the Indian officials, this was less than 1% of the total amount of weapons that Ukraine generally receives from its partners.
Officials from Spain and India also told journalists that among the EU countries, Italy and the Czech Republic send ammunition from India to Ukraine.
India's Defense Minister Rajnath Singh earlier said that exports of military products exceeded $2.5 billion last fiscal year and that Delhi wants to increase it to about $6 billion by 2029.
According to the journalists of the publication, two years before the Russian invasion of Ukraine in February 2022, three large Indian ammunition manufacturers — Yantra, Munitions India and Kalyani Strategic Systems — exported $2.8 million worth of ammunition components to Italy and the Czech Republic, as well as to Spain and Slovenia, where defense contractors have invested heavily in supply chains for Ukraine.
And from February 2022 to July 2024, this figure rose to $135.25 million, including finished ammunition, which India began exporting to four countries.
