The term 'One of the 'Emerging 7' Nations' refers to a group of seven countries that are considered to be emerging economies. India is one of these nations, and is the world's seventh-largest economy by nominal GDP. It is also the second-most populous country in the world, with over 1.3 billion people. India has seen rapid economic growth in recent years, and is now considered to be one of the most important emerging markets in the world.