India’s rapidly growing economy now has another exchange traded fund (ETF), courtesy of Emerging Global Advisors. The new ETF gives investors a whole new way to play the country’s smallest companies.

The two new funds – EG Shares Indxx India Small Cap ETF (NYSEArca: SCIN) and EG Shares Indxx India Infrastructure Fund (NYSEArca: INXX) are first-of-their kind funds and offer a new way for investors to get exposure to both small-cap companies, as well as infrastructure growth in India. [4 Things Firing Up India ETFs.]

EG Shares CIO Richard Kang told DNA Money that he likes India’s small-caps because it relies more on domestic demand. Large-cap corporations, on the other hand, are reliant on consumers in Japan, Europe and the United States – a consumer base that is notoriously cutting back right now, Uttara Choudhury for DNA India reports.

INXX will be released later this summer, and will contain a basket of 30 companies working to build up the country’s aging or non-existent infrastructure. The case for such a fund is huge. Economists recently estimated that India could achieve annual growth of as much as 10% if it invested more in transportation. [India ETFs: The Fight for Modernization.]

The Reserve Bank of India has had to raise interest rates twice since March to tame inflation since the economy has been expanding so rapidly. RTT News reports that India is forecast to grow by double digits this year.

For more stories about India, visit our India category.

Other India-focused ETFs trading right now are:

  • WisdomTree India Earnings (NYSEArca: EPI)
  • PowerShares India (NYSEArca: PIN)
  • iShares S&P India Nifty 50 Index (NASDAQ: INDY)

Tisha Guerrero contributed to this article.

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.