India is on the right track

Article Excerpt

ISHARES S&P INDIA NIFTY 50 INDEX FUND $30.98 (Nasdaq symbol INDY; buy or sell through brokers; us.ishares.com) is an ETF that aims to invest in the 50 largest, most liquid Indian securities. Indian stocks have moved up steadily since the May 2014 election of Narendra Modi as prime minister. India still needs to modernize its transportation,communications and electrical infrastructure. It also needs to reform its inefficient, corrupt bureaucracy. But Prime Minister Modi rose to prominence as the business-friendly chief minister of the western state of Gujarat. He’s now bringing a fresh approach to tackling the country’s problems, and the economy has responded, growing 5.7% in the latest quarter, a two-year high. iShares S&P India is now a buy. buy…