iShares, the world’s largest purveyor of ETFs, rolled out today an equities ETF focused on India, the latest in a series of single-country ETFs the company plans to list with the new Kansas City, Mo.-based BATS Exchange.

The iShares MSCI India Index Fund (BATS: INDA) is indeed only the eighth primary listing for BATS, the No. 3 U.S. exchange after the NYSE and Nasdaq. The fund, which costs 0.65 percent, joins single-country funds iShares listed on BATS last week that are focused on Norway and on Denmark and Finland, as well as four country-specific small cap funds.

INDA is designed around the MSCI India Index, and serves up exposure to the largest and most liquid names in India’s equities universe. It has a greater concentration on financial stocks—25 percent—than the pre-existing iShares S&P India Nifty 50 Index Fund (NYSEArca: INDY), which has 6 percent exposure to financials.

The fund is the latest of a growing list of ETFs that look to tap into India’s booming growth story—the country boasts more than 1 billion people—and has an overall population that is younger than China’s, meaning its most productive years are still ahead.

India’s growth looks particularly prospective against the outlook for most developed economies, which is marked by heavy debt loads and aging populations. Emerging markets, in general aren’t saddled by such growth-impeding debt.

Emerging Global Advisors, Van Eck, Invesco PowerShares, WisdomTree and iPath all are among the fund providers that have rolled out India-focused exchange-traded product strategies.

iShares’ other large-cap India-focused ETF, INDY, owns the 50 largest and most liquid names through a rupee-denominated benchmark. INDY has gathered some $325 million since it came to market just over two years ago, but it’s costlier than INDA, at 0.89 percent.

INDA’s Focused On Financials

The MSCI India Index underlying the new ETF is a free-float-adjusted market-capitalization-weighted index that tracks the performance of top 85 percent of companies in the Indian securities space by market capitalization. It’s reviewed quarterly.

As of the end of December, financials represented roughly a quarter of the portfolio’s sector allocation, followed by some 19 percent tied to information technology and 12 percent to energy names.

Infosys was the index’s biggest single component, representing more than 11 percent of the pie.

BATS’ First Family Of Nine

BATS first announced it was joining NYSE and Nasdaq in the primary listing business last year and iShares is its first customer.

Industry sources speculate that BATS is muscling into the primary listing business by competing on price, though it’s not yet clear whether cheaper listing costs will lead to lower fees for investors.

iShares plans to launch at least nine single-country funds that it will list on BATS, including INDA. They include:

• iShares MSCI Norway Capped Investable Market Index Fund (BATS: ENOR)
• iShares MSCI India Index Fund (BATS: INDA)
• iShares MSCI Denmark Capped Investable Market Index Fund (BATS: EDEN)
• iShares MSCI Finland Capped Investable Market Index Fund (BATS: EFNL)
• iShares MSCI India Small Cap Index Fund (BATS: SMIN)
• iShares MSCI Australia Small Cap Index Fund (BATS: EWAS)
• iShares MSCI Canada Small Cap Index Fund (BATS: EWCS)
• iShares MSCI Germany Small Cap Index Fund (BATS: EWGS)
• iShares MSCI United Kingdom Small Cap Index Fund (BATS: EWUS)