New Delhi, May 3 -- India won the emerging market race for the fourth consecutive year in 2024-25 despite hiccups, shows Mint EM tracker. Meanwhile, India has signed a mega deal with France to purchase Rafale fighter jets.

India retained its top spot among emerging economies in 2024-25 for the fourth consecutive year despite facing headwinds in the second half, such as weak exports, a depreciating rupee, and falling market capitalization, showed Mint's emerging markets tracker. India saw slippages in its rankings in the second half of 2024-25, but a strong start to the year helped it outperform peers. Stock markets, which have been struggling since late September 2024, saw a quick rebound in recent weeks after a brief shock from US tarif...