In a rocky year for emerging markets, the India stock market is considered to be fundamentally strong. India’s blue chips have been an important component of diversified emerging market ETFs that have been holding up this year. A review of the performance of ETFs, which track India’s major stock indexes, also show India’s blue chips and counter-cyclical stocks to hold their own in global downturns.The growing purchasing power parity of India’s rising middle class is helping to bolster these sectors. India’s consumer sector has faired better than many sectors, as evidenced by the performance of the EGShare India Consumer ETF. The small cap sector has been another bright spot. Longer term, the blue chips are outperforming the market. The IShares India 50, which tracks the Nifty 50, has outpaced its peers.