EMs: India big, Vietnam hot
Observers are pitching India as a $4–4.5T broad market across finance, defence, consumption and healthcare — but Mint’s EM tracker now nudges Vietnam ahead on growth, citing 7–8% GDP, double‑digit exports and a booming manufacturing base [](https://x.com/i/status/2032702468199719216). ETFs tell a mixed story — $EEM has lagged amid China/India/Korea weakness while $EWZ, $EWY and $VNM are named as long‑term favorites .
Mint’s Emerging Markets Tracker rolled out its latest rankings on March 11, 2026, in a video briefing that flagged Vietnam’s rise over India in the newest composite score. (livemint.com) Vietnam posted full‑year GDP growth of 8.02% in 2025, the official series shows, beating many regional peers and underpinning the 7–8% growth narrative. (tradingeconomics.com) Exports have been surging: Vietnamese exports jumped about 20% year‑on‑year in Q4 2025 to roughly $126.3 billion, a headline driver of the expansion. (icis.com) Foreign investment and manufacturing capacity are expanding rapidly — Vietnam recorded 9M/2025 GDP gains and reported new registered FDI capital of about $12.4 billion in the first nine months, according to PwC’s 2025 update. (pwc.com) India’s nominal GDP sits in the $4‑trillion band under several official projections (IMF WEO figures put 2025 around $4.1–4.2 trillion), a scale investors use when modelling a $4–4.5T “broad market” across finance, defence, consumption and healthcare. (imf.org) Macro headwinds for India include a sharply weaker rupee — which hit a record intraday low near 92.3050 per dollar in early March 2026 — and volatile equity sessions that saw Nifty and Sensex drops in March, both cited as drags on EM sentiment. (bloomberg.com) ETF flows and composition explain the split view: the iShares MSCI Emerging Markets ETF (EEM) carries roughly 27% China, ~21% Taiwan, ~15% South Korea and ~13% India exposure, so recent China/Korea/India weakness has amplified EEM volatility, while country ETFs such as VNM (VanEck Vietnam), EWY (South Korea) and EWZ (Brazil) have been singled out by ETF trackers and analysts as top country plays for 2026. (bestetf.net)
