India's market turnover among lowest globally, shows World Bank data

According to the World Bank, India's turnover ratio at 58 in 2018 was a 43 per cent drop from 101 recorded in 2004

Indian market volume vis-à-vis the size of the market is the lowest amongst major global economies, shows World Bank data for 2018. The so-called turnover ratio (cash market turnover divided by market capitalisation) for India stands at 58. In comparison, the ratio stands at 109 for the US, 174 for South Korea and 206 for China.
 
In a nutshell, market volumes exceed the market cap for these economies, while for India it is slightly more than half. Even smaller emerging market peers such as Brazil and South Africa score better, with turnover ratios of 147 per cent and 79