Recently there has been a surge of interest among investors in Indian stocks and ETFs, driven by India’s emergence as a beneficiary of China’s economic challenges.
After experiencing disruptions in supply chains due to the pandemic, numerous American companies are actively seeking to reduce their reliance on China. India boasts a sizable and highly skilled labor force, and its government is actively pursuing strategies to attract more foreign investment.
Indian Stocks: Will Sensex Crack 100,000?
Geopolitical tensions between China and the United States, as well as its Western allies, have also spurred large multinational corporations to explore alternatives to China.
Apple, the world’s most valuable company, is reportedly planning a significant expansion of its manufacturing operations in India, aiming to account for approximately 20% of its global iPhone production within the next two years. Additionally, Nvidia has recently announced partnerships with Indian giants Tata Group and Reliance Industries in the field of artificial intelligence.
India recently showcased its diplomatic prowess by successfully hosting the G-20 summit, underscoring its government’s aspirations to play a leading role in global affairs, particularly as the Western world seeks to counterbalance China’s growing influence.
India’s Economic Growth
India continues to maintain its status as the world’s fastest-growing major economy, with projected growth rates of 6% for this year and 6% plus in 2024. Forecasts indicate that India could become the world’s second-largest economy by the latter half of this century, a remarkable ascent from its current position as the fifth-largest economy globally.
Nevertheless, India lags behind China by several decades in terms of infrastructure development, despite ongoing government efforts to increase investments in this area. Addressing substantial challenges in deregulation and tax reform will be essential for India to establish itself as a prominent manufacturing hub on the global stage.
Indian Stocks ETF’s Listed in the US
Review the following leading Indian stocks and ETF’s listed on the New York Stock Exchange for potential investment opportunities in India.
Indian Stocks
HDFC Bank – HDB, ICICI Bank – IBN, Infosys – INFY, Wipro – WIT, Dr. Reddy’s Labs – RDY, MakeMyTrip – MMYT, WNS Holdings – WNS, Sify – SIFY, Lytus Technologies – LYT
Indian ETF’s
iShares MSCI India ETF – INDA, iShares MSCI India Small-Cap ETF – SMIN, WisdomTree India Earnings Fund – EPI, and India Internet & Ecommerce ETF – INQQ.
Indian Stocks: Will Sensex Crack 100,000?
