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For investors in search of long-term growth, India is a compelling starting point, and the iShares MSCI India ETF ( BATS:INDA) is a great way to tap into this massive market’s potential. Here's a breakdown of INDA and why India is becoming increasingly attractive from an investment perspective. Apple of the Eye Apple ( NASDAQ:AAPL ) CEO Tim Cook visited India recently, and the trip generated quite a bit of buzz not only for Apple but also for India itself. Apple recently opened its first two retail stores in India, and according to India’s deputy minister for information technology, Rajeev Chandrasekhar, Apple’s investment in the country will double or triple in the years to come. Apple is also shifting more production to India, leading JPMorgan ( NYSE:JPM ) to forecast that Apple could move a quarter of its iPhone production to India by 2025. An Emerging Powerhouse It’s easy to see why Apple is making a concerted effort to gain a stronger foothold in India. While China has long been the world’s most populous country, the U.N. forecasts that India’s population will surpass China’s by the middle of this year. Not only will India have the world’s largest population, but its population is also greater than all of Europe combined and all of the Americas combined. India is also the world’s largest democracy.  Perhaps most importantly, from an investment perspective, people under the age of 25 account for a staggering 40% of India’s population, according to Pew Research. India has the world’s largest population of people between 15 and 24 years old, and this is the demographic that will drive long-term growth, consumption, and productivity as they have the majority of their working lives ahead of them. This stands in contrast to China and many Western countries, where the population is aging and there aren’t as many young people to support the aging population or replenish the workforce, which could lead to future economic challenges. For comparison, the median age in India is just 28, whereas the median ages in the United States and China are 38 and 39, respectively.  Over time, more of these younger Indians should enter the global middle class, which will increase demand and further propel the country’s economy. Notably, the Asian Development Bank expects India's GDP to grow by 6.4% in 2023 and 6.7% in 2024. For perspective, this is more than double the GDP growth that many economists expect for the U.S. in 2023. India’s growing population, demographic changes, and growing stature as an economic hub could help it to solidify its standing as an economic powerhouse in the decades to come, making it an attractive area for long-term investments. If you don’t have boots-on-the-ground knowledge of the Indian market (or a local brokerage account), investing in an India ETF like the iShares MSCI India ETF is an easy and convenient way to add this long-term growth potential to your portfolio.  Gaining Momentum INDA is a $4.6 billion ETF from BlackRock's ( NYSE:BLK ) iShares that invests in large and mid-cap Indian equities. The ETF has an expense ratio of 0.64%, which is more expensive than the typical S&P 500 ( SPX ) or broad market ETF but isn't out of line with other international ETFs. INDA has put together a strong track record in recent times, with a 20% annualized return over the past three years as of the end of the most recent quarter. This edges out the three-year annualized 18.4% return of the SPDR S&P 500 ETF ( NYSEARCA:SPY) over the same time frame. While INDA stock has underperformed SPY over a five and 10-year time horizon (with annualized returns of 5% and 6% for INDA over five and 10 years versus 11% and 12.1% returns for SPY over the same time frames), its momentum clearly appears to be building over the past three years. I would expect it to continue to sustain its momentum based on the demographic and economic trends discussed above. Using the chart below from TipRanks' ETF Comparison Tool, you can see the performance of INDA versus SPY over the last three years. INDA's Holdings INDA holds 115 positions, and its top 10 holdings make up 45.6% of the fund. Reliance Industries accounts for over 10% of assets by itself, so INDA has significant exposure to India's largest company. Below, you'll find an overview of INDA's top 10 holdings using TipRanks' holdings tool. The iShares MSCI India ETF is also relatively well-diversified across sectors. Financials are the most prevalent sector here, with a 26.25% weighting. Information technology has the second-largest weighting at 13.9%, followed by energy (12.35%) and consumer staples and consumer discretionary, both at 10%. No other sectors account for more than a 10% weighting. Many of these stocks don't have listings in the United States, making them inaccessible to U.S. investors that want to buy them in their brokerage accounts. Therefore, investing through an accessible and liquid ETF like INDA is likely the best way for most U.S. investors to gain exposure to these stocks. One Cause for Concern While the overall picture for India and its economic growth looks promising, there is one cause for concern worth discussing here. While part of the appeal of emerging market stocks is usually that they are cheap, especially in comparison with U.S. stocks, this isn't really the case with India. In fact, the average price-to-earnings multiple for INDA's holdings is 22.3. This is right about in line with U.S. stocks -- the S&P 500 currently sports an average P/E multiple of 23.9. While this valuation isn't egregious by any means, you're not getting the type of discount that you usually would in emerging markets that you might expect without looking beneath the surface. For reference, the iShares MSCI Emerging Markets ETF ( NYSEARCA:EEM) has a significantly lower average P/E multiple of 11.2 (as of March 31). While I still think INDA looks compelling based on India's long-term growth characteristics, this higher valuation gives investors less margin for error. Looking Ahead The iShares MSCI India ETF has been gaining momentum over the past several years, and with India's favorable demographics and growing population, the country's economic growth could just be getting started. While the overall valuations of the holdings are not cheap, presenting some risk, over the next decade or so, it's hard to imagine the market's growth not winning out. INDA offers investors a convenient and direct way to tap into this growth story, making it an attractive ETF for long-term growth investors. Disclosure

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Apple ( NASDAQ:AAPL) has never had great success in penetrating the Indian market, with less than 2% of its global revenues generated there, amounting to roughly $6 billion. While Apple's overall revenue from India is relatively small, the tech giant is making a concerted effort to capture more of the market. In this regard, Apple is opening its first retail stores in Mumbai and New Delhi. For Wedbush's Dan Ives, the openings could provide a big boost to the top-line. “Apple is now aggressively looking at India from both a production and retail expansion over the coming years that we believe will be a strategic poker move for Cupertino that could ramp annual revenue to $20 billion by 2025 in India,” said the 5-star analyst. The openings will likely be followed by a massive domestic marketing campaign and Apple will hope to cut into Samsung and Chinese players Xiaomi and vivo’s dominance as the biggest players in Indian’s smartphone market while also replicating its success in China. Getting into retail will be Apple’s first step in India and considering the nightmare it has had in its iPhone production in China due to the Covid lockdown issues seen during the holiday season, Ives notes Apple and its partner Foxconn are now looking at India for “more production diversification on the iPhone front.” Further boosting production in India should go alongside expanding the retail presence, in a similar way to how Apple developed its strategy in China. All told, it might take a while until Apple reaches the sort of penetration achieved there, but Ives thinks Apple is on the right track. “Rome was not built overnight and neither will Apple's broader India strategy,” he summed up. “However, we view this week as Apple diving into the deep end of the pool in India as this massive market slowly converts into the Apple ecosystem over the coming years with iPhone market share gains front and center.” All in all, Ives reiterated an Outperform (i.e., Buy) rating and $205 price target on AAPL, suggesting the shares will climb 30% higher in the months ahead. (To watch Ives’ track record, click here) Let’s turn our attention now to the rest of the Street, where based on 24 Buys, 4 Holds, and 1 Sell, AAPL currently carries a Strong Buy consensus rating. Although with an average price target of $174.86, the analysts project a modest 6% upside over the coming months. (See Apple stock forecast ) To find good ideas for stocks trading at attractive valuations, visit TipRanks’  Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.