Against the backdrop of ongoing global political turmoil and enduring after-effects of the pandemic, maintaining economic balance is an arduous task. However, India has demonstrated resiliency in both domestic and global economic scenarios. With a GDP surpassing 3 trillion USD, a steady policy rate of 6.5% in June 2023, inflation cooling down to a 20-month low at 4.3% in May 2023, and its benchmark BSE SENSEX index recording an all-time high, India is poised for sustainable economic growth as it becomes the fifth largest economy.

The MVIS® India Index (MVIND), a modified market cap index tracking the largest liquid companies of India was up almost 12% in the last year, reaffirming the ongoing economic rally. 

MVIS® India Index and MVIS® Digital India Index


Source: MarketVector IndexesTM. Data as of June 26, 2023.

It is well known that India's economy is substantiated by its burgeoning service sector, which now accounts for almost half of the country's GDP, with the ICT and digital economy alone contributing 13% to overall economic output. IT services witnessed record-high exports of 142 billion USD,  the telecom sector became the world's second-largest with 1.2 billion subscribers, while digital banking fostered financial inclusion for 85% of the population, showcasing the country's global and domestic edge.

The MVIS® Digital India Index (MVDIND), a modified market cap index ensures a pure-play exposure to the digital economy space of India. 


About the Author:

Kinjal Shukla is an Index Researcher and Data Engineer at MarketVector IndexesTM. She is responsible for the design and development of MarketVectorTM Indexes and for creating data infographics. She has cleared FRM Level 1 having come from a risk profile in Barclays, India. Kinjal has a degree in MSc in Financial Engineering from Stevens Institute of Technology, USA, and an MBA-Tech degree from NMIMS-MPSTME University, India.


For informational and advertising purposes only. The views and opinions expressed are those of the authors but not necessarily those of MarketVector Indexes GmbH. Opinions are current as of the publication date and are subject to change with market conditions. Certain statements herein may constitute projections, forecasts, and other forward-looking statements that do not reflect actual results. It is not possible to invest directly in an index. Exposure to an asset class represented by an index is available through investable instruments based on that index. MarketVector Indexes GmbH does not sponsor, endorse, sell, promote, or manage any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. Including security within an index is not a recommendation by MarketVector Indexes GmbH to buy, sell, or hold such security, nor is it considered investment advice.