India will continue to grow

Article Excerpt

ISHARES INDIA 50 ETF $38.07 (Nasdaq symbol INDY; buy or sell through brokers; us.ishares.com) tracks the Nifty 50 index—the 50 largest, most-liquid Indian securities. It began trading in November 2009. The fund’s top holdings are Reliance Industries (conglomerate), 8.9%; HDFC Bank, 7.7%; Housing Development Finance, 6.9%; Infosys (information technology), 6.0%; ITC (conglomerate), 5.7%; ICICI Bank, 5.4%; Tata Consultancy (information technology), 4.8%; and Kotak Mahindra Bank, 3.6%. The fund has a high 0.93% expense ratio. Prime Minister Narendra Modi’s party hopes to win the national election now underway. That would let it continue to push through much-needed economic and political reforms. Either way, though, India remains one of the world’s fastest-growing economies. iShares India 50 ETF is a buy. buy…

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