Abstract
It has been widely recognized that the equity markets in India represent an investment opportunity. This article provides macro-economic support for this notion. This is followed by a brief look at the Indian equity markets and their recent performance. It then discusses the regulatory constraints a foreign investor faces in investing in these markets, using the currently available indexes. It concludes with a description of the Indus India Index, a passive index that takes the regulatory constraints into account and can, therefore, be used as the basis for open-ended funds including ETFs and mutual funds for investors outside India.
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