The PowerShares India Portfolio (NYSEArca: PIN) is up 2.4% over the past month. Some market observers believe Indian stocks offer rebound potential. Over the short-term, India has benefited from cheap energy prices as the country is one of the largest importers of crude oil. Looking further out, economic reforms, including more business-friendly and growth-oriented policies, could help support growth over the medium-term.
India ETFs, including PIN and rivals such as the iShares India 50 ETF (NasdaqGM: INDY) and the EGShares India Consumer ETF (NYSEArca: INCO), soared earlier this year when Prime Minister Narendra Modi proposed a budget of 877.7 billion rupees, or $12.9 billion, on rural programs such as expanding irrigation projects, crop insurance and village roads.
“Stock funds collected $604.4 million last week and bond funds advanced by $54.5 million. The MSCI Emerging Markets Index declined 0.2 percent in the week,” according to Bloomberg.
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