According to a report by Moody's Ratings, India has established itself as the most resilient large emerging market since 2020, surpassing peers such as Mexico, Brazil, and South Africa. The report attributes India's strong performance to early policy reforms and substantial financial buffers, which have allowed the country to absorb global economic shocks effectively. India demonstrated limited volatility in credit spreads, currency movements, and bond yields, maintaining access to capital markets even during periods of heightened uncertainty. The report emphasizes that India's robust foreign-exchange reserves and credible monetary policy framework have been crucial in stabilizing the economy. These factors have enabled India to manage external pressures without abrupt policy shifts, distinguishing it from more vulnerable economies like Turkey, Argentina, and Nigeria, which have faced significant market stress. However, Moody's also highlights structural challenges, including India's relatively high public debt, which could limit future fiscal responses. Despite these constraints, India is viewed as one of the best-positioned emerging market sovereigns to handle future global shocks, reflecting a broader trend of improved resilience among emerging markets over the past decade.