As growth surges, should investors bet on India?

As India's economy picks up steam, investors looking for fast growth but wary of lax government policies should take a close look. India could be poised to make headway for years to come.

On Monday, the Indian government reported that the country's GDP expanded at 7.9% year-over-year in the quarter ending in September, a sharp pickup from the 6.1% gain in the prior quarter. The growth easily beat analyst estimates of a 6.3% gain and led to a strong rally on Mumbai's benchmark Sensex index on an otherwise rough day for global markets.