As Mobius points out, mid- and small-cap Indian stocks are performing exceptionally well this year. India small-cap ETFs, including Market Vectors India Small-Cap Index ETF (NYSEArca: SCIF), EGShares India Small Cap ETF (NYSEArca: SCIN) and iShares MSCI India Small-Cap ETF (NYSEArca: SMIN) are among this year’s best-performing non-leveraged ETFs of any type.

SCIN tries to reflect the performance of the Indxx India Small Cap Index, which is comprised of a maximum 75 companies in the small-cap segment in India. SCIF tracks the MVIS India Small-Cap Index of small-cap companies in India. The fund has a broader 158 components. SMIN follws the MSCI India Small-Cap Index and is the most diversified with 256 components.

“India’s Bombay Sensex index has gained 10 percent year to date after seeing a rocky end to 2016 following Modi’s decision to remove large banknotes from circulation in order to fight counterfeit currency issues,” according to CNBC.

More aggressive investors who are confident about India may even look to a leveraged bullish play on Indian markets. The Direxion Daily India Bull 3X Shares (NYSEArca: INDL), which takes the 3x or 300% daily performance of Indian stocks.

For more information on Indian markets, visit our India category.