Global consultant Goldman Sachs said in a recent report that India would be among the top three economies of the world in less than 30 years. The report speaks of a sustained economic growth in India that would outpace other developing economies like Brazil, China and Russia.

The Goldman Sachs report may have raised eyebrows, but the $7.5 billion that was ploughed into Indian securities markets in 2003, shows India is being taken seriously.

For further proof, read the latest Dow Jones Newswires’ monthly poll of fund managers, which reveals India is one of the most preferred markets for investment in 2004.

There is a strong case for investing in India Inc’s growth story, but spotting the right horses is by no means easy for the common man, especially as share prices swing sharply.

Kotak Mutual Fund, which manages Rs 4,800 crore in assets, has unveiled a scheme that promises to invest in shares of those Indian firms that are going to take the country’s economy to new highs globally. Rushabh Seth, head of equity funds at Kotak Mutual Fund, says Indian firms across sectors will see explosive growth.

Called Kotak Global India, the scheme will be investing 65-95 per cent of its corpus in shares of 30-35 globally competitive Indian firms, and the rest in debt and money market instruments. The scheme is expected to focus on sectors like pharmaceuticals, IT services, infrastructure, engineering, automobiles and auto-ancillaries.