Investor interest in India rose steadily last year thanks to the country’s growing economy , burgeoning population and impressive stock market rally . But a pullback toward the end of 2024 left market participants divided on whether to remain invested. Malcolm Dorson, senior portfolio manager at Global X ETFs, remains bullish on the country. “Broadly speaking, India is a compounding machine, and we see the recent pullback as a unique opportunity to step into high quality names with conviction,” Dorson, who manages the Global X Active India ETF , told CNBC Pro . Global X’s parent, Mirae Asset, is one of the largest foreign asset managers in India. .NSEI 1Y mountain Nifty 50 His comments come after a tricky time for India’s stocks, with the benchmark Nifty 50 index and the BSE Sensex index — which represents 30 of the country’s largest and most traded firms on the Bombay Stock Exchange — down 8.4% and 7.3% respectively in the final quarter of 2024. Over the year as a whole, the Nifty 50 rose 8.8% while the BSE Sensex gained 8.2%. For comparison, U.S. benchmark S & P 500 index gained 23.31% in 2024. For those looking to cash in on the recent dip in Indian stocks, here are Dorson’s top picks for 2025: Shriram Finance Top of Dorson’s list is Shriram Finance , formerly known as Shriram Transport Finance, a non-banking lender that offers loans to individuals and smaller businesses. Approximately 90% of the loans it disburses are “against sustainable earning assets,” or assets generating a steady stream of income, while around 95% are collateralized, the portfolio manager explained. What really sets the company apart is its scale and wide user base of over 10 million on its app, Dorson said. He also likes its practice of recruiting employees between the ages of 21 and 25 and only training and promoting from within the organization. Shares in Shriram Finance are listed on India’s National Stock Exchange and are up around 50% over the last 12 months. According to FactSet data, all 37 analysts covering the stock give it a buy or overweight rating at an average target price of 3,686.71 Indian rupees ($43). This gives it upside potential of around 20%. General Insurance Corporation of India Another company Dorson is bullish on is reinsurance player General Insurance Corporation of India (GICRE). The portfolio manager likes the reinsurance business model and GICRE specifically “as it is a way to invest in the premiums paid by policyholders before claims are paid out.” “This ‘float’ creates opportunities to drive accretive growth,” he added. Dorson also expects GICRE — and other insurance companies in India — to benefit from a reduction in the tax on premiums paid for life and health insurance policies . Shares in GICRE are listed on India’s National and Bombay Stock Exchanges and are up around 45% over the last 12 months. Of the three analysts covering the stock cited by FactSet, two give it a sell rating. Their average target price gives it 25% downside potential. Reliance Industries Elsewhere in India, Dorson is betting on Reliance Industries , a conglomerate spanning energy, petrochemicals, entertainment and telecommunications. Run by Mukesh Ambani, India’s richest person , the company has a renewed focus on digitalization and is investing in a “massive digital backbone to support longer-term monetization of mobile and digital data consumers,” the portfolio manager said. Dorson noted that Reliance is looking to double the revenue and EBITDA (earnings before interest, taxes, depreciation and amortization) from its retail and digital business segments over the next 3 to 4 years. Dorson also flagged that Jio, a telecommunications company owned by Reliance, and some of its other retail businesses “will be some of the most closely followed market activity for foreign institutional investors and domestic investors alike.” Shares in Reliance are listed on India’s National and Bombay Stock Exchanges and are down around 4% over the last 12 months. Of the 37 analysts covering the stock, 85% give it a buy or overweight rating, according to FactSet data. The analysts’ average price target of 1,589.69 Indian rupees gives it 28% upside potential.