Two new exchange traded funds (ETFs) finally give investors the passage to India they had been looking for.

The country has been in the spotlight lately, with its 9% annual GDP growth and strong currency and a presence that demands some attention, reports  Roger Nusbaum for TheStreet.

The newest additions, the  WisdomTree India Earnings (EPI) and PowerShares India Portfolio (PIN) might represent the same market, but they’re vastly different. EPI is fundamentally weighted with 150 companies while PIN is market-cap weighted, focusing on 50 companies.

EPI gives 41% to energy and materials, while PIN allocations 37% to the sectors. EPI gives less to telecom, 17%, while PIN gives 26%. PIN’s heavier weighting in technology is seen as more of a bet on what India can provide to the world. Did you know that the "brains" of the iPod were invented by an Indian company, who then sold it to Apple (AAPL)?

EPI has had better past performance because of its heavier weighting in resources, but any large commodity correction will hit EPI harder then PIN, Nusbaum says. EPI focuses more on internal growth, which appears to be a better choice.

Earlier this week, iShares announced that it has filed a registration form with the Securities and Exchange Commission (SEC) for yet a third India ETF.

India will add volatility to any portfolio, and whichever fund you choose, make sure it fits in with your investment goals.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.