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In the past month, PowerShares and WisdomTree have each launched an exchange-traded fund that tracks local Indian companies. PowerShares execs rang the opening bell at the New York Stock Exchange today after its ETF — the PowerShares India ETF Portfolio — debuted yesterday. The ETF closed at $25.56 yesterday, up from an opening bid price of $25.34. That ETF replicates the Indus India Index, which includes 50 Indian stocks from two major Indian exchanges and takes into account both market capitalizations and regulatory caps on foreign ownership of local shares. The ETF is designed to provide “benchmark-like” exposure to the Indian market, said Bruce Bond, CEO of PowerShares Capital Management. Tech giant Infosys is in the lineup, as is Tata Motors, the local maker of a $2,500 automobile.–Annelena Lobb
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