India has become the third of the so-called "Bric" countries to have a total stock market capitalisation in excess of $1 trillion (€743bn), after soaring valuations and an increase in the rupee to dollar exchange rate took it beyond the milestone for the first time.

The Bric countries, which comprise Brazil, Russia, India and China, were first named in a Goldman Sachs economics paper which deemd the four countries as the most likely to become the world's dominant economies by 2050.