Morgan Stanley economists forecast its stock market will be the world’s third largest before the end of 2030.
For those who passively track stock market indexes, the controversy engulfing Adani, briefly the world’s third richest man, may act as a deterrent from an already expensive market.
The newish chair of India’s securities regulator, Madhabi Puri Buch, has already wielded a stick at credit rating agencies to instil better market discipline.
In the meantime, the turmoil is a reminder to investors of the danger of investing blindly in emerging markets.
Stocks look increasingly expensive compared to emerging marketsReuters GraphicsFollow @ugalani and @ShritamaBose on TwitterloadingloadingCONTEXT NEWSShares of the Adani group companies have lost $65 billion since Jan. 25 after U.S. short-seller Hindenburg Research published a research note on the group.