iShares CNX Nifty India (XID.TO)

If you want to get into emerging markets, but want to avoid China and still have the growing middle class, India is the way to go.

Indian ETF. Very different demographics in India vs. China and he is bullish on India. We pulled back to the 200 day moving average. We are sitting on it right now. He thinks we are probably going lower and it will be a better opportunity in the back half of the year.

30% financials, and not too different from what we have in Canada. He thinks those financials are stable. This is up 63% in the last 12 months. India is a beneficiary of lower oil prices, because they are a net importer. Expect to see 6%-7% GDP growth for the country. This Saturday the budget is going to be unveiled.

There has been a lot of enthusiasm about India’s new prime minister, and that he will be freeing up a lot of the capital restriction rules with much more open markets. The prices of these things have really gone through the roof in anticipation, but he doesn’t think it is being done yet. This is not something he would want to go into right now.

With the new government in India, it is much more positive for business. This is a good product.

Sold it a couple of years ago. India is not one of his favourite places to invest because of issues with capital requirements and restrictions. 1% MER.