New Delhi, June 29 -- India returned to the top of Mint's Emerging Markets Tracker (EMT) in May after a six-month gap as stronger manufacturing activity and faster export growth lifted its composite score to 68.05. China climbed two places to second, while Vietnam registered the biggest monthly jump, advancing five ranks to third on the back of robust exports and sustained factory activity.

Higher crude oil prices during May weakened the rupee, increasing import costs for an economy that depends on overseas supplies for more than 85% of its crude oil requirement. Although oil prices have eased following the Israel-Iran ceasefire, the impact of the earlier surge is now spreading beyond fuel bills into factory input costs and wholesale inf...