Published on 29 Mar 2024 on Insider Monkey via Yahoo Finance
10 Best India ETFs For 2024
In this article, we discuss 10 best India ETFs. If you want to skip our detailed discussion on the Indian economy, head directly to 5 Best India ETFs For 2024.
India's economy saw its fastest growth in a year and a half at the end of 2023, fueled by strong activity in manufacturing and construction. This growth adds to Prime Minister Narendra Modi's economic achievements ahead of the national election. As per Reuters, the country’s GDP expanded by 8.4% in the fourth quarter of 2023, exceeding expectations and the previous quarter's growth of 7.6%. India has revised its growth forecast for the fiscal year to 7.6% from 7.3%. This strong economic performance could strengthen Modi's reelection prospects, as he has focused on high economic growth in his campaign. Modi praised the December growth, saying it "shows the strength of Indian economy and its potential". His government has increased infrastructure spending and offered incentives to boost manufacturing in different sectors, aiming to improve India's competitiveness against countries like Vietnam and Thailand. In the December quarter, the manufacturing sector grew by 11.6%, investment growth exceeded 10% for the second quarter in a row, and the construction sector expanded by over 9%.
Sunil Kumar Sinha, economist at India Ratings, commented: