The Next Mumbai Moneymakers

It’s widely believed that India will ink a free trade deal with the European Union sometime soon. What should you know about this global giant that you probably don't?

Here’s how Tim Seymour, aka The Ambassador, recommended playing this emerging market:

When you think of India -- if you only think of call centers or software design -- you’re missing the big picture, he said.

India’s economy of 1 billion consumers is expanding at a speedy 9% per year, but the people of India burn less oil per-person than almost any other citizens on earth. That means India's big energy appetite is barely being satisfied.

So how can you play it? Tim recommended refiner Reliance Energy or oil giant ONGC, although neither stock trades in the U.S.

And there’s another basic fuel for any economy: cash. Indian banks like ICICI Bank (IBN) and HDFC Bank (HDB) are injecting capital to pay for this energy infrastructure expansion – plus, both banks are traded on U.S. exchanges.

Additionally, investors can get behind India’s growth in other ways. For instance, the country is the third largest cellular market in the world, Tim said. And then there’s software: Play the outsourcing with names like Satyam Computer (SAY) or Infosys (INFY).

Back on the energy front, Pete Najarian noted how hungry the nation is for coal – the one resource that the U.S. is completely self-sufficient on. He said it wouldn’t be surprising if there was an Indian consortium that came in and bought an American coal company like Alpha Natural resources (ANR).

Tim called Indian “as hungry or more so” than China when it comes to energy resouces. Look at the iron ore names as well as the coal stocks, he said.

Guy Adami recommended U.S. Steel (X), saying its market cap is small enough that it could be bought out.

Check out these other posts in our series on emerging markets.

> "From Russia With Love"
> "Follow The Oil Money"> "Brazil: Bank It On Rio"

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Trader disclosure: On Nov. 29, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Najarian Owns (BSC) Options, Najarian Owns (COP) Options, Najarian Owns (ETFC), Najarian Owns (EMC) Options, Najarian Owns (GOOG) Options, Najarian Owns (YHOO) Options; Seygem Asset Management Owns (AAPL), Seygem Asset Management Is Short (EEM); Seymour Owns (FRE), Seygem Asset Management Owns (INFY), Seygem Asset Management Owns (TSL), Seygem Asset Management Owns (INTC), Seymour Owns (MER), Seymour Owns (MS), Seygem Asset Management Owns (MSFT), Seymour Owns (YHOO); Finerman's Firm Owns Russell 2000 Puts, Finerman's Firm Is Short (SPY), Finerman's Firm Is Short (IWM), Finerman's Firm Is Short (IYR), Finerman's Firm Is Short (IJR), Finerman's Firm Owns (BIIB) Options, Finerman's Firm And Finerman Own (GS), Finerman's Firm Owns (JWN), Finerman's Firm Is Short (LEH) And Owns (LEH) Puts, Finerman's Firm Owns (MSFT) Options, Finerman's Firm Is Short (MBI), Finerman's Firm Owns (NMX), Finerman's Firm Owns (NYX), Finerman's Firm Owns (VCLK), Finerman's Firm Owns (WMT), Finerman's Firm Owns (YHOO); Finerman’s Firm Owns Fortis, finerman’s Firm Owns (UFS); Charles Schwab is a sponsor of Fast Money