Look for long-term opportunity in India

India offers good long-term opportunities. And if you don't already have exposure to the market, it's worth watching for a chance to get in.

Buoyed by a decisive election victory for the pro-business government of Prime Minister Singh, India's Sensex soared 17% at the start of last week, the biggest one-day gain in almost 20 years.

But are Indian stocks now too expensive? And can the election really pave the way for India to continue the rapid development that saw its economy grow by an average 7.8% a year between 2000 and 2007?

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