In recent weeks, Indian government officials have lowered gross domestic product growth forecasts. And a $15 billion debt relief package for poor farmers and a pay hike for civil servants have added to budgetary strain.
So, how should you play this dangerous tiger?
I’m sending you straight to Dell, says Guy Adami. They expect revenues to go from $700 million to $1 billion in India.
Look at Wal-Mart, says Jeff Macke, but only if they can crack the nation’s restrictive rules on the size of retailers.
I like Nokia the best, says Karen Finerman, as an India play. They are India's biggest handset seller by far and they have huge brand recogniztion.
The only domestic play I like in India is ICICI Bank Limited, adds Pete Najarian.
India’s Top 5 ADRs
Company Symbol Market Cap.
Infosys (INFY) $24B
ICICI Bank (IBN) $17B
Wipro Limited (WIP) $17B
Sterlite Industries (SLT) $10B
Satyam Computer (SAY) $8B
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Trader disclosure: On Aug 14, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (COST), (DIS), (MSFT), (WMT), (UUP); Adami Owns (C), (GS), (INTC), (BTU), (AGU), (MSFT), (NUE); Najarian Owns (AAPL), (NOK), (TSO), (XTO); Najarian Owns (WPI) Calls, (ONXX) Calls, (MRVL) Calls, (CSCO) Calls; Najarian Owns (BGG) Puts; Finerman Owns (GS); Finerman's Firm And Finerman Own (C) Leaps; Finerman's Firm Owns (JCP), (MSFT), (NOK), (SUN), (TSO), (VLO), (MO); Finerman's Firm Is Short (IYR), (IWM), (SPY), (IJR), (XLF), (BBT), (COF); Finerman's Firm Owns (ANF) Call Spreads; Finerman's Firm Is Short British Pound