India’s economy has quadrupled since 1991, and it’s showing in its exchange traded note (ETN). The iPath MSCI India Index (INP) is up 78.1% year-to-date and believe it or not, there is still room to grow in Asia’s third-largest economy.

Cherian Thomas at Bloomberg says that in the early ’90s, the government introduced free market measures that enabled foreign companies to set up shop locally, creating new jobs. That, in turn, has caused the per capita income to double in the last eight years.

Despite the fact that growth grew at its slowest pace this year, it’s still the second-fastest growing economy after China and is managing to attract investment from companies such as Coca-Cola (KO) and Motorola (MOT). But interest rates have risen recently in an attempt to keep inflation in check.

That hasn’t hurt India’s good looks as an investment option, because it’s generally viewed as the Asian country least vulnerable to a slowdown.


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