This Indian Company's AUM Is Double The Size Of Pakistan's GDP

Following a sharp rally in Indian stocks, the total assets under management (AUM) of state-owned insurance behemoth LIC has now crossed the ₹50 lakh crore mark – nearly double the size of neighbouring Pakistan's GDP. Latest data shows that Life Insurance Corporation’s AUM has increased by 16% year-on-year (YoY) to ₹51,21,887 crore ($616 billion) as of March-end. Pakistan's GDP, on the other hand, is only about $338 billion, according to the IMF. At $616 billion, LIC's mountain of money is now nearly double as big as Pakistan's economy. While India is seen emerging as an economic superpower in the impending problem-ridden global financial landscape, debt-laden Pakistan has been struggling to make ends meet and narrowly escaped a sovereign debt default last month. The International Monetary Fund (IMF) has expressed serious concerns about Pakistan's ability to repay its debts saying that high political uncertainty and resurgence of social tensions could undermine economic stabilisation policies.