 "Stock broker looking at screen outside the Bombay Stock Exchange")
‘Made in India’ is floundering on Dalal Street. The market capitalisation share of export-intensive sectors is down to a five-year low of 17.6 per cent, from a record high of 23.9 per cent at the end of FY16.
The decline has been led by information technology (IT) companies and pharmaceuticals, two of corporate India's biggest exporters. Software exporters such as Tata Consultancy Services, Infosys and Wipro now account for 9.7 per cent of the combined market capitalisation, a seven-year low and down 450 basis points (bps) from their high at the end of FY14.
The decline for pharma exporters such
