India shines brightest among slumping emerging markets

THE turnaround in India's fortunes since Narendra Modi assumed the role of Indian Prime Minister last year has been nothing short of spectacular.

The country, according to new GDP estimation methodologies, is deemed to have grown 6.9 per cent and 7.4 per cent in 2013 and 2014 respectively.

Meanwhile, the Modi administration is targeting a minimum of 8 per cent growth for the country this year - effectively outpacing the expansion in China's economy for the first time in more than a decade.