NEW YORK ( TheStreet) -- As the second fastest growing economy, India presents a vast potential for overseas investments. U.S. investors can invest in India through American Depositary Receipts (ADRs). An upsurge in overseas investments recently drove the benchmark Sensex to around the 21,000 level for the first time since early 2008.It is not the end of the road for investors who missed the Indian Equities rally -- Sensex up over 20% during the last six month -- without considering the recent correction of 8% from the present highs. Post-correction, it could be a good time to venture into Indian equities. The benchmark index is trading at 16 times one-year forward earnings and the International Monetary Fund foresees India's economy growing at 9.7% in 2010 and 8.4% in 2011, well above the estimated U.S. growth of 2.7% and 2.2%, respectively, for the same period. Robust macro fundamentals along with a benign inflation, which is estimated to spiral down from 13.2% in 2010 to 6.7% by 2012, is also good news.
Indian ADRs to Buy, Sell
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