M-cap ranking: India worst-performing in 2023, United Kingdom now sixth

India's contribution to the world market cap too has slipped below 3 per cent after having topped 4 per cent in October 2022

India has slipped to the seventh position in ranking of nations by market capitalisation (m-cap) with the rout in Adani Group stocks continuing to make a dent in the country’s standing.

The United Kingdom has surpassed India to occupy the sixth place. The latter had overtaken its former colonial ruler just nine months ago to break into the top five for the first time.

In less than two months, the domestic market’s rank has dropped two places. On January 31, France had dislodged India from the fifth position.

So far this year, India’s m-cap is down by $231 billion, or