3 ETFs For Akshaya Tritiya (GLD, INCO, INXX)

Most Americans probably don't know that the one of the most important celebrations for the Hindu faith and in Indian culture rolls around later this month, that being Akshaya Tritiya. Akshaya means eternal or that which never diminishes and it is widely believed that new ventures that are started on Akshaya Tritiya bring good fortune. Akshaya Tritiya also coincides with Indian wedding season being in full bloom and those two factors combined lend efficacy to once again examining Indian investment opportunities. On a year-to-date basis, India-specific ETFs

are sporting some tidy gains, but the past month has been a different story. The Market Vectors India Small-Cap ETF

was the second-best performing U.S.-listed in the first quarter, but that fund is down 7.4% in the past month and is off almost 3% today. The WisdomTree India Earnings ETF

has shed 7% in the past month and is being slammed to the tune of 3.5% on Friday. Maybe Akshaya Tritiya is just the relief ETFs with deep ties to India need to get back in the swing of things. Consider the following.

A big part of the reason that ETFs backed by physical gold have struggled in recent weeks is because the Indian government said last month it would double taxes on imported gold and tax most gold jewelry. That led to a three-week strike by Indian jewelers and fears of these tax proposals sent chills down the backs of gold bugs because India is the world's largest gold consumer. The strike has ended as Finance Minister Pranab Mukherjee has said he will consider scuttling the new tax proposals. GLD and the rival iShares Gold Trust

are worth a look now because Indian wedding season and Akshaya Tritiya typically result in increased demand for the yellow metal in India. After all, it's believed that gold purchased and worn on Akshaya Tritiya brings good luck.

INCO continues to be an unheralded, almost ignored ETF as no shares have changed hands in the fund yet today. That means a lot of traders and investors are ignoring one of the best ETFs for the

. About 36% of INCO's weight goes to personal products makers and that's a decent play on Akshaya Tritiya and Indian wedding season right there, but the ETF also features a combined allocation of almost 27% to food, beverage, tobacco, travel and leisure goods companies, validating INCO as the preeminent play on the Indian consumer.

The EGShares India Infrastructure ETF is one of the prime examples of an India-specific ETF that started 2012 on fire, but has cooled considerably, falling 7.4% in the past month. After being turned back by resistance at $17, INXX has proceeded to violate support at $15, highlighting some near-term technical issues. All of that said, INXX could be worth a look, and we're not kidding, because Akshaya Tritiya is believed to be the ideal time to commence new business and infrastructure ventures because of the good fortune associated with the celebration. To read more about India-specific ETFs, please click

.