The market capitalisation of the Bombay Stock Exchange (BSE) recently crossed the country's domestic GDP. The total listed market cap touched Rs 33 lakh crore (approx $ 640 bn), eclipsing the GDP figure of around Rs 32 lakh crore during FY06. The market cap for all listed BSE stocks rose to Rs 34 lakh crore.

With this new achievement India joins an exclusive league of nations such as the US and the UK along with some emerging economies such as South Africa, Malaysia and Singapore. The Indian market seems to have come of age with IT, banking and infrastructure sectors recording a healthy growth rate, which is being reflected in the stock market performance.

India thus became the first BRIC country, where the market cap of the companies listed on the stock exchange exceeded the GDP of that country. As Ravi Sardana, senior Vice President, ICICI Securities, puts it- "Markets are estimating very high economic growth for the future and the current market valuations are capturing the projected GDP growth. It's no longer BRIC, everybody is just talking about India!"