The country is also increasing its oil demand, noted Seymour, who is also a "Fast Money" contributor.
Rob Lutts, founder and chief investment officer of Cabot Wealth Financial, said that while there have been a lot of headwinds over the past couple of years, the young democracy in the country is really expanding.
"We see great growth potential in the future," he told "Power Lunch."
In fact, India's stock market has outperformed the S&P 500 "dramatically" over the decades. Since it has underperformed in the last five years, he believes it is ideal time to get involved.
Lutts likes the financial services sector and believes most of the consumer sectors have a lot of upside.
He specifically likes HDFC, which he said is the top-performing private sector bank in India.
— CNBC's Jackie O'Sullivan contributed to this report.
Disclosures: Cabot Wealth Management Inc. clients own positions in HDFC Bank (HDB). Robert T. Lutts owns HDFC Bank.