Recently I read reports that PowerShares plans to introduce an India ETF in the US based on the Halter Index (HXI). However, HXI is not really an India Index. It is an index of ADR’s and companies in the US whose primary business is in India. The index consists of very few components and doesn’t really represent the Indian market as a whole.

What I would wish for is an ETF, based on the MSCI India Index – They have one in Singapore, how about giving us one in the US?

However, it should be noted that India Fund Inc. (IFN) and the Morgan Stanley India Investment Fund (IIF) have both been outperforming the Indian indices (BSE and NSE). I would assume they are also outperforming the MSCI Index?

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