India’s equity valuations measured using the market capitalization to GDP (gross domestic product) ratio is above its long-term average. Also known as the Warren Buffett indicator the measure stood at 95% in FY23, showed an analysis by Motilal Oswal Financial Services Ltd. This is well ahead of its long-term average of 81%. This ratio is derived by using the total market cap of a country’s listed stocks as the numerator and GDP as the denominator.
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