Investors may want to consider increasing their exposure to the world's second-largest emerging market.
According to Kevin Carter, founder of EMQQ Global, India's technology sector is currently extremely attractive.
“It is the spearhead of growth [in e-commerce] …not just in emerging markets, but across the planet,” Carter told CNBC's “ETF Edge” this week.
His company is behind the INQQ The India Internet ETF, which was launched in 2022. The India Internet ETF is up nearly 21% so far this year, as of Friday.
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“DoorDash of India”
One of Carter's top pieces is Zomatowhich he calls “that”. DoorDash of India.” Zomato shares are up 128% this year.
“One of the reasons Zomato has performed so well this year is that its quick commerce business has exceeded expectations,” Carter said. “It now looks like it will be the biggest deal on Zomato.”
Carter noted that his optimism comes from a population that is just starting to get online.
“They’re basically getting their very first computer today,” he said, “They’re giving billions of people supercomputers to access the Internet.”