Investors may want to consider adding exposure to the world's second-largest emerging market.
According to Kevin Carter, founder of EMQQ Global, the technology sector in India is very attractive at the moment.
“It's the tip of the growth spear (in e-commerce) … not just in emerging markets, but on the planet,” Carter told CNBC's “ETF Edge” this week.
His company is behind INQQ The India Internet ETF, which launched in 2022. The India Internet ETF is up about 21% so far this year, as of Friday's close.
“Bab Dash in India”
One of Carter's best plays is Zomatowhich he calls ” DoorDash India.” Zomato stock is up 128% this year.
“One of the reasons why Zomato has performed so well this year is that its express business cover has exceeded expectations,” Carter said. “It now looks like it will be Zomato's biggest business.”
Carter noted that his upside comes from residents who are just starting to get online.
“They're getting the first ever computer today,” he said. “You're giving billions of people supercomputers in their pockets and access to the Internet.”
