I also like India as a long term investment. Primarily because I believe that democracies, like India, will always beat dictatorships like China in the long run.I have just sold my INFY because I think that the increase in the valuation of the Rupee, and rising salary costs in India will reduce the attraction of outsourcing. I also own TATA and HDB. At the next dip, I will increase my HDB holdings. Basically HDB is a proxy for the Indian economy which will continue to outpace any developed economy for the forseeable future.I do not believe that trying to fine tune one's investment strategy to cope with fluctuations caused by inflationary concerns is worth the effort. Think long term and take your lumps when they come.Trying to find smaller Indian companies is not practical for me, I just don't know enough about them, and in any case, at present I do not think that non-Indian individuals can buy shares directly on the Mumbai exchange. So for the present I will stick with the big banks that trade on the NYSE.
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