India’s growth prospects remain attractive

Article Excerpt

Growth this year for South Asia’s biggest economy is likely to come in at around 6%. That’s below its pre-pandemic growth rates of 8% or more, but it will still make India one of the world’s fastest-growing economies in 2023. The country continues to face a weak healthcare system, poor infrastructure, and very slow implementation of much-needed economic and political reforms. However, India is home to a number of top global companies with bright futures. Here’s an ETF that provides you with exposure to leading, publicly listed Indian companies. ISHARES INDIA INDEX ETF $44.28 (Toronto symbol XID; TSINetwork ETF Rating: Aggressive; Market cap: $53.8 million) tracks the performance of the largest publicly listed Indian companies. Financials account for 37% of the ETF’s assets, followed by Technology (15%), Energy (12%), Consumer Staples (9%), Materials (7%), and Consumer Discretionary (7%). The ETF holds a portfolio of 50 stocks. The top 10 holdings make up 58% of its assets. They are Reliance Industries (Energy, 10.3%), HDFC Bank (Financials, 9.0%),…