Stock Quotes in this Article: IBN, TTM, WIT

 SAN FRANCISCO (Stockerblog) -- Can you guess what the third-largest economy in the world is? Not the U.S., not China. It's India, which also happens to be the world's second-fastest-growing major economy.

If you think tech is India's biggest industry, think again. IT accounts for only about 1% of the total GDP, while India ranks second worldwide in farm output. It also has the fourth-largest reserves in the world of coal.

There are plenty of India stocks that U.S. investors can buy, and dividends are available on more than half a dozen of the Indian stocks that trade in the U.S., which we track at WallStreetNewsNetwork.

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    For example, Tata Motors (TTM), a major automobile manufacturer in India, also makes and markets utility vehicles, trucks, buses and defense vehicles. It produces gasoline, electric and hybrid vehicles. The stock pays a yield of 1.1% and trades at only 7.8 times forward earnings. Quarterly revenue grew 36.8% for the quarter ending Sept. 30. The company also has about $3.45 per share in cash.

    Another Indian stock that pays a dividend is Icici Bank (IBN), the second-largest bank in India and the largest private-sector bank in India based on market capitalization. It currently yields 1.1% and has a forward price-to-earnings ratio of 16. Quarterly earnings jumped 79% on a revenue gain of 13.5% for the quarter ending March 31.

    Wipro (WIT) is a semi-conglomerate, which sells software services, computer hardware such as computers, servers and laptops, personal care products and lighting products. It has also invested in renewable energy projects. The stock has a yield of 0.8% and a forward P/E of 29. Earnings for the quarter ending Sept. 30 were up 9.8%.

    To access a free recently updated list of the India stocks that trade in the U.S., about half of which pay dividends, visit WallStreetNewsNetwork.

    At the time of publication, author had no positions in stocks mentioned.

    Fred Fuld III, the publisher of stock and bond investing blog Stockerblog and founder of WallStreetNewsNetwork, has been in the financial services industry for over 20 years, working as an investment advisor, options market maker at the Pacific Stock Exchange, vice president of a San Francisco money management firm, university faculty member and wholesaler for the New Alternatives Fund (the first environmentally conscious mutual fund). He is the author of the books Investing in Brazil Stocks and The Green Light on Green Stocks.