Indian Prime Minister Narendra Modi's recent address to the U.S. Congress and Apple (AAPL) - Get Report  CEO Tim Cook's May visit to India are creating a buzz around the subcontinent. Ed Kerschner, chief investment officer at Emerging Global Advisors, expects that excitement to carry over to Indian stocks.

"India is now projected to be the fastest growing economy in the world at 7.5% to 8% growth," said Kerschner. "Tim Cook is going there because Apple wants a piece of it. And Prime Minister Modi came to America to promote investment into India."

Kerschner said it is clear that infrastructure investment will need to increase significantly in order to sustain India's rapid pace of economic growth. The government is committed to increasing spending on total infrastructure investment in the next two years by 22.5% as outlined in the recent union budget. And Kerschner said there is an urgency to raise the share of railways in total infrastructure investment from around 0.4% of GDP to 1% in the coming five years.

Kerschner's EGShares India Infrastructure ETF (INXX)  is up 3% year-to-date. The ETF has approximately $41 million in assets. In May Columbia Threadneedle Investments announced an agreement for Columbia Management Investment Advisers to purchase New York-based Emerging Global Advisors.

The $74 million EGShares India Consumer ETF (INCO) - Get Report  is also up around 3% thus far in 2016. Kerschner said the Indian consumer is just getting started as Prime Minister Modi's economic reforms kick in.

India's consumption as a share of the world projected to increase from 2.5% in 2015 to almost 3.5% by 2020, according to the World Bank. Meanwhile, Indian consumption is in its infancy when compared to other emerging market countries. And among emerging market economies, India has the lowest income per head and the lowest household spending per head, so there is room for growth, especially with population growth at 1.41% and a median age of 27.

"You have a young population at a median age of 27, that's the sweet spot. That's when you start to consume so the India consumption story is what lies ahead," said Kerschner. "India will be the world's biggest middle class by 2024.

Finally, the adoption of the Internet in India has accelerated over the last five years, according to the World Bank. Now 18 per 100 people has internet access and this number is set to increase as more young Indians get online to start shopping.