The PowerShares India Portfolio (PIN) began trading March 5 on the NYSE Arca.
The new fund follows the Indus India Index which provides coverage to industry sectors like information technology, health sciences, financial services, and consumer products.
Fifty Indian stocks are chosen from a universe of the largest listed companies on the two major Indian exchanges – the Bombay Stock Exchange and the National Stock Exchange.
Top holdings include Dr. Reddy’s Laboratories, HDFC Bank, Satyam Computer Services and Tata Motors.
The performance of Indian stocks along with other emerging markets has cooled in 2008. To date, India’s Bombay Sensex has declined 19.5 percent.