Global X India Nifty 50 ETF (NDIA) — Review & Analysis

NDIA is the largest dedicated India ETF on the ASX with AUM of $185.25 million as at May 2026, tracking the Nifty 50 — the benchmark index of India's 50 largest listed companies on the National Stock Exchange. Top holdings include HDFC Bank, Reliance Industries, Infosys, ICICI Bank, Tata Consultancy Services, Bharti Airtel, Larsen & Toubro and ITC. Compare NDIA across the full India and emerging markets cohort on our India ETF page.

NDIA is a passive index tracker — it owns the Nifty 50 in proportion to market-cap weightings, with no factor screens or active stock selection. The 0.69% p.a. management fee sits cheaper than IIND at 0.80% and dramatically below the active India options (FIIN at 1.20%, IAEF at 1.10%). For investors who want broad Indian equity exposure without taking a manager view, NDIA is the lowest-cost dedicated option on the ASX.

The Nifty 50 is heavily weighted toward Financials (roughly 35%) and Information Technology (15-20%), with smaller exposures to consumer staples, energy and industrials. India is one of the few large equity markets where banks remain a structural growth story rather than a mature sector — the financialisation of household savings and rising credit penetration are central to the long-term thesis. NDIA captures that directly through its bank-heavy composition.

India has been one of the strongest-performing major markets of the past decade — driven by demographic tailwinds, growing middle-class consumption, infrastructure investment, and rising digital adoption. The market trades at premium valuations compared to other emerging markets, which is the main risk: any earnings disappointment or capital outflow can compress multiples meaningfully. NDIA is unhedged for currency, so the INR/AUD also affects returns. Our best Asia, China and emerging markets ETFs guide covers India alongside other regional options.