The India Internet ETF is Europe’s first ETF providing ESG exposure to the rapid digitisation of India.
Our Partner
Rapid digitisation of India
India is the fastest growing major economy. With ~7 million new smartphone users every month, swathes of the population are coming online – but data suggests we are still early.
Pure-play exposure to India
Broader India indices may suffer from problems such as including state owned companies or overweighting legacy bank and oil sectors. The India Internet ETF looks to achieve pure India exposure through extensive screening.
ESG-screened exposure
Unique opportunity to access the rapid growth of India internet and ecommerce through an ESG screen. Stocks that fail to meet the strict criteria are excluded from the index.
A growing middle class
India’s growing middle class creates greater purchasing power, potentially boosting ecommerce.
A young population
India’s population is young, which may create more appetite for digitalisation and connectivity.
The India Internet ETF (INQQ) provides investors with exposure to India internet and ecommerce. India has become one of the fastest growing major economies. Central to this has been middle class growth, allowing swathes of the population to gain internet access and boosting online consumption. The country is believed to be in a digital golden age. Holdings in the India Internet ETF are screened to ensure the majority of their revenue comes from internet and ecommerce activities in India. The India Internet ETF tracks INQQ The India Internet ESG Screened Index and employs an ESG screen.
Kevin Carter, Founder & CIO of EMQQ Global, breaks down why emerging markets are the biggest growth story in capitalism. With a spotlight on India’s digital revolution, Kevin makes the case for a smarter, more targeted approach to emerging market investing. Discover how 6.5 billion people, mobile-first economies, and rising digital entrepreneurs are reshaping the global investment landscape.
Key Risks
The value of equities and equity-related securities can be affected by daily stock and currency market movements. Emerging frontier markets are subject to greater market volatility than developed markets. Investors; capital is fully at risk and investors may not get back the amount originally invested. For a complete overview of all the risks, please refer to the “Risk Factors” in the Prospectus.
Source: HANetf, data as of 31.08.2026. Please note that all performance figures are showing net data. Performance before inception is based on back-tested data. Back-testing is the process of evaluating an investment strategy by applying it to historical data to simulate what the performance of such a strategy would have been. Back-tested data does not represent actual performance and should not be interpreted as an indication of actual or future performance. Past performance for the index is in USD. Past performance is not an indicator for future results and should not be the sole factor of consideration when selecting a product. Investors should read the prospectus of the Issuer (“Prospectus”) before investing and should refer to the section of the Prospectus entitled “Risk Factors” for further details of risks associated with an investment in this product. If fund is less than 12 months old, YTD field will be calculated since inception. When you invest in ETFs your capital is at risk.
*The fund changed its index on 24th June 2024. The index performance is a composite of the old index prior to this date and the new index after.
No. of holdings: 25
Companies must derive the majority of their revenue from internet and ecommerce activities in India, and are ESG-screened. The India Internet ETF tracks the INQQ The India Internet ESG Screened Index which rebalances semi-annually.
*The fund changed its index on 24th June 2024.
India internet and ecommerce exposure refers to companies linked to India’s digital consumer economy. This may include online retail, food delivery, travel platforms, digital payments, fintech, online insurance, digital marketplaces and app-based consumer services. The theme focuses on how rising internet access, smartphone adoption, digital payments and a growing middle class can change how Indian consumers shop, save, travel, communicate and access services. Investors should understand that this is more targeted than broad India equity exposure.
Broad India equity exposure often includes banks, energy companies, industrials, state-linked businesses and legacy sectors. India internet exposure is more focused on companies whose revenues are linked to digital consumption, ecommerce, fintech or online platforms. This can create greater exposure to long-term digitalisation trends, but also higher concentration risk. Investors should consider whether they want broad exposure to the Indian economy or more targeted exposure to consumer internet and platform-based business models.
Growth in India’s digital economy is driven by rising smartphone use, improving connectivity, digital payments, ecommerce adoption, urbanisation and a growing consumer class. Younger demographics and mobile-first behaviour can support demand for online shopping, food delivery, travel booking, financial services and entertainment. However, growth is not guaranteed. Companies may face intense competition, changing regulation, profitability challenges, valuation risk and sensitivity to consumer spending. Investors should assess whether digital growth is translating into sustainable earnings and cash flow.
Examples of relevant companies include Bajaj Finance, Eternal, Jio Financial Services, PB Fintech, Swiggy, Lenskart, MakeMyTrip, One 97 Communications, FSN E-Commerce Ventures and Billionbrains Garage. These businesses span fintech, food delivery, ecommerce, online travel, digital payments and consumer platforms. Investors should treat these as examples of current exposure rather than stock recommendations. Holdings and weights can change over time, so investors should review the latest portfolio and index methodology before making any decision.
Key risks include emerging market risk, regulatory risk, currency risk, valuation risk, competition and profitability risk. Internet and ecommerce companies may prioritise growth over profits, face pressure from rivals, or be affected by changing rules around payments, data, consumer protection and foreign ownership. Share prices may also be sensitive to investor sentiment toward growth companies. Investors should understand that targeted digital exposure can be more volatile than broad market exposure.
Disclaimer: These FAQs have been generated with the assistance of AI and may contain errors or omissions. They are provided for general information only and do not constitute investment advice, a recommendation, or an invitation to buy or sell any investment.
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December 2023
Emerging Markets ETF & India Internet ETF Report | August 2026
September 2026
Emerging Markets ETF & India Internet ETF Report | November 2025
November 2025
Emerging Markets ETF & India Internet ETF Report | September 2025
September 2025
Emerging Markets ETF & India Internet ETF Report | August 2025
August 2025
Emerging Markets ETF & India Internet ETF Report | July 2025
Emerging Markets ETF & India Internet ETF Report | June 2025
June 2025
Emerging Markets ETF & India Internet ETF Report | May 2025
May 2025
Emerging Markets ETF & India Internet ETF Report | April 2025
April 2025
Emerging Markets ETF & India Internet ETF Report | March 2025
March 2025
Emerging Markets ETF & India Internet ETF Report | February 2025
February 2025
Emerging Markets ETF & India Internet ETF Report | January 2025
January 2025
Emerging Markets ETF & India Internet ETF Report | December 2024
Emerging Markets ETF & India Internet ETF Report | November 2024
November 2024
Emerging Markets ETF & India Internet ETF Report | October 2024
October 2024
Emerging Markets ETF & India Internet ETF Report | September 2024
Emerging Markets ETF & India Internet ETF Report | August 2024
August 2024
Emerging Markets ETF & India Internet ETF Report | July 2024
July 2024
Emerging Markets ETF & India Internet ETF Report | June 2024
June 2024
Emerging Markets ETF & India Internet ETF Report | May 2024
May 2024
Emerging Markets ETF & India Internet ETF Report | April 2024
April 2024
Emerging Markets and India Internet ETF Report | Mar 2024
March 2024
Thematic & Digital Assets Review | H1 2024
Emerging markets explained: what they are and why now?
July 2025 |
EMQQ Global’s Kevin Carter sees renewed momentum in emerging markets and digital consumers
May 2025 |
Why India could be the ultimate emerging market
April 2024 |
Money Week
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India tech ETF showdown
Explore the latest video on the India Internet ETF, explaining why India’s stock market is poised to skyrocket, more than doubling in value to $10 trillion by 2030, thanks to the country’s surging economy and persistent reforms.
About Partner
EMQQ Emerging Markets Internet UCITS ETF has been developed by HANetf, EMQQ Index and EMQQ Global LLC, a US-based emerging market investment specialist and provider of NYSE-listed EMQQ ETF. https://www.emqqetf.com/
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