India has been reported as the best-performing market this year and an area investors should continue to focus on, according to The Independent.

"India is one of my favorite emerging-market investments for the long term," said Darius McDermott, of Chelsea Financial Services. "Its large current-account deficit made the market quite reliant on foreign capital flows and the strength of the US dollar, so the currency in particular was hit hard when tapering talks began last year. But things are now looking up."

McDermott said that the country's deficit and the inflation are decreasing, but it is a short-term volatile market.

"Most importantly, this is the first time in 30 years that India has not had a coalition government and the first time in its history that a government with a non-socialist, pro-market philosophy will be in power with a majority," he said.

Fund managers in India are also optimistic.

"Where previously we had been used to attractive headline announcements but hidden stings in the tail, this time the small print was impressive and I take an optimistic view of what the finance minister is trying to achieve," Avinash Vazirani, manager of the Jupiter India fund, told The Independent.

Some are attributing this change to the new Prime Minister, who has a strong track record when he was in charge of the state of Gujarat.

Kunal Desai, manager of the Neptune India fund, gave three reasons for the change in perception and the new strength.

"First, the strength of the new Government is unprecedented. Next, the electorate have voted directly for economic growth and development over populism and caste. And finally, this presidential-style election was essentially won by one individual, Narendra Modi -- a man with a track record of decisive action during his tenure as Gujarat chief minister," he said.

McDermott said investors should keep their eyes on India.