A rapidly expanding economy has helped to transform the ambitions, habits and incomes of India’s middle class in ways that would have been unimaginable just a generation ago, not least for young women. This spirit is captured nicely by a New York Times article by Somini Sengupta as she describes opportunities in tourism and air travel.
With one of the most youthful populations in the world, India is charging ahead elevating about 25 million people each year into the middle class. But this must be viewed against the challenges the country faces with more than 300 million living on less than a dollar a day and the 80% of the total 1.1 billion population that have not finished ninth grade.
Despite the country's great promise ther are only a few India exchange-traded fund or ETFs options on the market. One is the closed-ended fund (IIF) managed by Morgan Stanley and the other is actually an exchange-traded note or ETN (INP) brought to the market last year by the iShares family of ETFs.
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