Interesting. I could even make a bet that these foreign funds will pump Indian stocks higher and higher, at which point Indian households will start buying - it's difficult not to do it when you hear your neighbor and cousin who are making lots of easy money by doing so.

In a few years the bubble will go up and up, until at some point it will begin to burst. The foreign funds that started it all will sell, with huge profits, and the Indian households will be left to deal with the mess.