According to the latest World Economic Outlook (IMF), India remains on an expansionary track following the sharp GDP drop estimated at 8% in 2020, as the economy recovers from the pandemic
The IMF expects "growth in India is projected to remain strong, at 6.3% in both 2023 and 2024, with an upward revision of 0.2 percentage points for 2023, reflecting stronger-than-expected consumption during April-June,"
Starting out from a strong base, India appears likely to benefit significantly from the global recovery following the COVID pandemic
Sensex, the index for the top 30 on the Indian National Stock Exchange, has recovered stongly but it will be noted that 6 companies weigh more than 50% of the index - Reliance Industries, HDFC Bank, Infosys, HDFC, ICICI Bank and TCS
The ETFs for India seek to offer alternative investment strategies by size (large, medium and smaller market caps), by factor (yield or expected profitability) and by total market
Top ETF performers highlight the strength of the domestic consumer market with VanEck Vectors® India Growth Leaders ETF [asset ticker="GLIN" mnemonic="NYSEARCA"] and Columbia India Consumer ETF [asset ticker="INCO" mnemonic="NYSEARCA"]
