Assets are pouring into mutual funds in India, doubling in the past three years to $48 billion, Dow Jones reports. And half of those assets are managed by foreign companies, including Franklin Templeton, Prudential and ING Group.

This prompted Fidelity Investments to enter the market last year and JPMorgan with plans to set up shop in India later this year. American International Group also is gearing up to enter India in the near future by setting up a company it will wholly own, not a joint venture.

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