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After ceding the tag of the fastest-growing major economy, India has now moved out of the $2-trillion market capitalisation club. The combined market value of all domestically-listed stocks stood at $1.95 trillion on Monday, following a sharp drop in the rupee against the dollar and a slide in the markets. Indian markets have lost nearly $250 billion in market value since the Union Budget.
The increase in tax surcharge, introduction of the buyback tax and a lack of stimulus to boost economic growth have left investors disappointed.
India, by far, is the worst-performing major market in
