Franklin FTSE India ETF (FLIN Quick QuoteFLIN - Free Report) is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 35.65% from its 52-week low price of $30.41/share.

Are more gains in store for this ETF? Let us take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed.

FLIN in Focus

The underlying FTSE India Capped Index is based on the FTSE India Index and is designed to measure the performance of Indian large and mid-capitalization stocks. The fund has double-digit exposure to financials (23.59%), consumer discretionary (12.59%) and information technology (11.40%). The product charges 19 bps in annual fees (see: all Asia-Pacific (Emerging) ETFs).

Why the Move?

India's potential for growth makes it an attractive choice for investors. Recent upgrades in growth forecasts for the country, driven by robust public investment and strong private consumption, boost the prospects for the fund. Consumers in India are expected to increase their spending on both essential and non-essential items as per the country’s central bank. This trend is likely to continue over the next year.

Additionally, an increasing workforce population and a surge in new business establishments are favorable.

More Gains Ahead?

Currently, FLIN has a Zacks ETF Rank #2 (Buy). The fund might continue its strong performance in the near term, with a positive weighted alpha of 32.80 (as per Barchart.com), which gives cues of a further rally.