New Delhi, June 24 -- India retained the top position in Mint's Emerging Markets Tracker for the second consecutive month in May, but with its lead significantly narrowed. While India scored 67 (out of 100) in the tracker's composite score, Thailand was a close second at 66.6.

India's top rank was due to its fastest GDP growth and strongest manufacturing activity among emerging markets, and continued gains in the stock market. However, it lost its margin compared to April, when it scored 87.9 and the Philippines came second at 68.2. This was due to deteriorating export growth, currency movement and a lower stock market capitalisation.

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Thai challenge

Meanwhile, Thailand jum...