<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0001419139</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000020839</seriesId>
        <classId>C000058323</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>Invesco India Exchange-Traded Fund Trust</regName>
      <regFileNumber>811-22147</regFileNumber>
      <regCik>0001419139</regCik>
      <regLei>549300NGCN738YF4VR08</regLei>
      <regStreet1>3500 Lacey Road</regStreet1>
      <regStreet2>Suite 700</regStreet2>
      <regCity>Downers Grove</regCity>
      <regStateConditional regCountry="US" regState="US-IL"/>
      <regZipOrPostalCode>60515</regZipOrPostalCode>
      <regPhone>800-983-0903</regPhone>
      <seriesName>Invesco India ETF</seriesName>
      <seriesId>S000020839</seriesId>
      <seriesLei>54930046WR5OHZ9EQC23</seriesLei>
      <repPdEnd>2025-10-31</repPdEnd>
      <repPdDate>2025-04-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>228655757.92</totAssets>
      <totLiabs>141088.33</totLiabs>
      <netAssets>228514669.59</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>4583688.34000000</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000058323" rtn1="-6.72000000" rtn2="7.76246600" rtn3="3.81993700"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
          <commodityContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </commodityContracts>
          <creditContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </creditContracts>
          <equityContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </equityContracts>
          <foreignExchgContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </foreignExchgContracts>
          <interestRtContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </interestRtContracts>
          <otherContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </otherContracts>
        </monthlyReturnCats>
        <othMon1 netRealizedGain="0.00000000" netUnrealizedAppr="-17431434.40000000"/>
        <othMon2 netRealizedGain="1283366.78" netUnrealizedAppr="16986723.29000000"/>
        <othMon3 netRealizedGain="2117589.44" netUnrealizedAppr="7204620.10000000"/>
      </returnInfo>
      <mon1Flow redemption="0.00000000" reinvestment="0.00000000" sales="0.00000000"/>
      <mon2Flow redemption="0.00000000" reinvestment="0.00000000" sales="0.00000000"/>
      <mon3Flow redemption="9571044.95000000" reinvestment="0.00000000" sales="60500.14000000"/>

    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>Castrol India Ltd.</name>
        <lei>335800KCNMKXQFPJ5Q28</lei>
        <title>Castrol India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE172A01027"/>
        </identifiers>
        <balance>71217.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>166597.83000000</valUSD>
        <pctVal>0.072904654348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aarti Industries Ltd.</name>
        <lei>335800JBE5SD89NHB831</lei>
        <title>Aarti Industries Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE769A01020"/>
        </identifiers>
        <balance>29596.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>147658.71000000</valUSD>
        <pctVal>0.064616731286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>L&amp;T Finance Ltd.</name>
        <lei>335800XGURT7JWGYNB41</lei>
        <title>L&amp;T Finance Ltd.</title>
        <cusip>Y5153Q109</cusip>
        <identifiers>
          <isin value="INE498L01015"/>
        </identifiers>
        <balance>124601.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>242382.93000000</valUSD>
        <pctVal>0.106068870954</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Berger Paints India Ltd.</name>
        <lei>335800TNTIBFAWWUZD51</lei>
        <title>Berger Paints India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE463A01038"/>
        </identifiers>
        <balance>43173.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>277567.76000000</valUSD>
        <pctVal>0.121466057517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Emami Ltd.</name>
        <lei>335800CCQHJCDEUS7G90</lei>
        <title>Emami Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE548C01032"/>
        </identifiers>
        <balance>30533.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>225390.87000000</valUSD>
        <pctVal>0.098632998224</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Phoenix Mills Ltd. (The)</name>
        <lei>33580037PCXCE5PNQU51</lei>
        <title>Phoenix Mills Ltd. (The)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE211B01039"/>
        </identifiers>
        <balance>27586.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>542986.90000000</valUSD>
        <pctVal>0.237615773628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hindustan Unilever Ltd.</name>
        <lei>5493007IW5N37IKRPM32</lei>
        <title>Hindustan Unilever Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE030A01027"/>
        </identifiers>
        <balance>129987.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>3608822.12000000</valUSD>
        <pctVal>1.579251838175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Patanjali Foods Ltd.</name>
        <lei>335800EXLHZBCGE81H10</lei>
        <title>Patanjali Foods Ltd.</title>
        <cusip>Y7364P151</cusip>
        <identifiers>
          <isin value="INE619A01035"/>
        </identifiers>
        <balance>16222.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>365468.19000000</valUSD>
        <pctVal>0.159932047538</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Coforge Ltd.</name>
        <lei>3358004YL9JGBNP4KF72</lei>
        <title>Coforge Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE591G01017"/>
        </identifiers>
        <balance>9313.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>809663.31000000</valUSD>
        <pctVal>0.354315681987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mazagon Dock Shipbuilders Ltd.</name>
        <lei>335800UWDDBKMF92JF96</lei>
        <title>Mazagon Dock Shipbuilders Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE249Z01020"/>
        </identifiers>
        <balance>11172.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>406318.12000000</valUSD>
        <pctVal>0.177808330961</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bajaj Finserv Ltd.</name>
        <lei>3358001EH4I4IDMGQ326</lei>
        <title>Bajaj Finserv Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE918I01026"/>
        </identifiers>
        <balance>56046.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1294538.96000000</valUSD>
        <pctVal>0.566501468952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bayer CropScience Ltd.</name>
        <lei>529900XEDZLQSXJY7F33</lei>
        <title>Bayer CropScience Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE462A01022"/>
        </identifiers>
        <balance>1919.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>106378.25000000</valUSD>
        <pctVal>0.046552044203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Power Grid Corp. of India Ltd.</name>
        <lei>3358009SHWZ3DZEQ4Z56</lei>
        <title>Power Grid Corp. of India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE752E01010"/>
        </identifiers>
        <balance>614210.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>2230773.98000000</valUSD>
        <pctVal>0.976206028261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bata India Ltd.</name>
        <lei>335800Z9GJDJWCOZ5F78</lei>
        <title>Bata India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE176A01028"/>
        </identifiers>
        <balance>9547.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>136462.10000000</valUSD>
        <pctVal>0.059716997707</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oberoi Realty Ltd.</name>
        <lei>335800TCKG1XQXN51L44</lei>
        <title>Oberoi Realty Ltd.</title>
        <cusip>Y6424D109</cusip>
        <identifiers>
          <isin value="INE093I01010"/>
        </identifiers>
        <balance>17376.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>337314.71000000</valUSD>
        <pctVal>0.147611840677</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cummins India Ltd.</name>
        <lei>3358002PR6NKJRU4YS77</lei>
        <title>Cummins India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE298A01020"/>
        </identifiers>
        <balance>19807.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>680068.79000000</valUSD>
        <pctVal>0.297603996811</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gujarat Fluorochemicals Ltd.</name>
        <lei>335800AQPB19VEXI8M93</lei>
        <title>Gujarat Fluorochemicals Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE09N301011"/>
        </identifiers>
        <balance>5875.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>270507.57000000</valUSD>
        <pctVal>0.118376457181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cipla Ltd.</name>
        <lei>335800KMJJYEDDK82Q34</lei>
        <title>Cipla Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE059A01026"/>
        </identifiers>
        <balance>83840.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1538524.82000000</valUSD>
        <pctVal>0.673271795968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sundaram Finance Ltd.</name>
        <lei>335800QM6HEH82BEJY45</lei>
        <title>Sundaram Finance Ltd.</title>
        <cusip>Y8210G114</cusip>
        <identifiers>
          <isin value="INE660A01013"/>
        </identifiers>
        <balance>9795.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>611123.08000000</valUSD>
        <pctVal>0.267432756547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Relaxo Footwears Ltd.</name>
        <lei>335800WKVV9SXNBPBQ04</lei>
        <title>Relaxo Footwears Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE131B01039"/>
        </identifiers>
        <balance>10719.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>51907.99000000</valUSD>
        <pctVal>0.022715386322</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Escorts Kubota Ltd.</name>
        <lei>335800FPEJC7WFBUBF07</lei>
        <title>Escorts Kubota Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE042A01014"/>
        </identifiers>
        <balance>5039.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>194379.05000000</valUSD>
        <pctVal>0.085061957006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bharat Heavy Electricals Ltd.</name>
        <lei>3358007X5FQ2R445Z747</lei>
        <title>Bharat Heavy Electricals Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE257A01026"/>
        </identifiers>
        <balance>188046.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>504203.50000000</valUSD>
        <pctVal>0.220643821643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bosch Ltd.</name>
        <lei>3358008TVK7S8BSVVW82</lei>
        <title>Bosch Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE323A01026"/>
        </identifiers>
        <balance>1281.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>446095.47000000</valUSD>
        <pctVal>0.195215244080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Communications Ltd.</name>
        <lei>3358004PBWAYF65RLI81</lei>
        <title>Tata Communications Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE151A01013"/>
        </identifiers>
        <balance>16873.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>317654.86000000</valUSD>
        <pctVal>0.139008519921</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Page Industries Ltd.</name>
        <lei>335800D6UFCCKUP3KD53</lei>
        <title>Page Industries Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE761H01022"/>
        </identifiers>
        <balance>898.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>484139.35000000</valUSD>
        <pctVal>0.211863575703</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gujarat Gas Ltd.</name>
        <lei>335800BGVH85CIFRKY95</lei>
        <title>Gujarat Gas Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE844O01030"/>
        </identifiers>
        <balance>29967.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>160720.13000000</valUSD>
        <pctVal>0.070332521885</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Laurus Labs Ltd.</name>
        <lei>335800S8HO8QRYP3VQ26</lei>
        <title>Laurus Labs Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE947Q01028"/>
        </identifiers>
        <balance>57433.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>411257.11000000</valUSD>
        <pctVal>0.179969675792</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIEMENS ENERGY INDIA Ltd.</name>
        <lei>335800AEZO3CVXCSA716</lei>
        <title>SIEMENS ENERGY INDIA Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE1NPP01017"/>
        </identifiers>
        <balance>13076.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>383556.48000000</valUSD>
        <pctVal>0.167847640017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ambuja Cements Ltd.</name>
        <lei>335800NT6LQHR1428E20</lei>
        <title>Ambuja Cements Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE079A01024"/>
        </identifiers>
        <balance>116985.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>745827.42000000</valUSD>
        <pctVal>0.326380543243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REC Ltd.</name>
        <lei>335800B4YRYWAMIJZ374</lei>
        <title>REC Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE020B01018"/>
        </identifiers>
        <balance>182887.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>912902.07000000</valUSD>
        <pctVal>0.399493858157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Info Edge (India) Ltd.</name>
        <lei>335800MXUVHTBF9DEC78</lei>
        <title>Info Edge (India) Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE663F01024"/>
        </identifiers>
        <balance>11226.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>939046.95000000</valUSD>
        <pctVal>0.410935084248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dixon Technologies (India) Ltd.</name>
        <lei>335800D7XO7AVXXJ8575</lei>
        <title>Dixon Technologies (India) Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE935N01020"/>
        </identifiers>
        <balance>5563.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1084480.96000000</valUSD>
        <pctVal>0.474578267533</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Endurance Technologies Ltd.</name>
        <lei>335800SGKO6VP2PIAM50</lei>
        <title>Endurance Technologies Ltd.</title>
        <cusip>Y2R9QW102</cusip>
        <identifiers>
          <isin value="INE913H01037"/>
        </identifiers>
        <balance>4836.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>107424.48000000</valUSD>
        <pctVal>0.047009883519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hindalco Industries Ltd.</name>
        <lei>335800KXLE5NO5B4GF90</lei>
        <title>Hindalco Industries Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE038A01020"/>
        </identifiers>
        <balance>202415.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1496040.99000000</valUSD>
        <pctVal>0.654680503743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nippon Life India Asset Management Ltd.</name>
        <lei>335800ZQXV958RZSRU89</lei>
        <title>Nippon Life India Asset Management Ltd.</title>
        <cusip>Y7270W100</cusip>
        <identifiers>
          <isin value="INE298J01013"/>
        </identifiers>
        <balance>25023.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>188974.22000000</valUSD>
        <pctVal>0.082696756553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Infosys Ltd.</name>
        <lei>335800TYLGG93MM7PR89</lei>
        <title>Infosys Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE009A01021"/>
        </identifiers>
        <balance>514122.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>9088615.11000000</valUSD>
        <pctVal>3.977256745182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NLC India Ltd.</name>
        <lei>335800ZUJIL59GOZUW75</lei>
        <title>NLC India Ltd.</title>
        <cusip>Y6345K117</cusip>
        <identifiers>
          <isin value="INE589A01014"/>
        </identifiers>
        <balance>51250.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>137975.67000000</valUSD>
        <pctVal>0.060379349057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jubilant FoodWorks Ltd.</name>
        <lei>9845000D3B99893F5B14</lei>
        <title>Jubilant FoodWorks Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE797F01020"/>
        </identifiers>
        <balance>52988.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>448058.58000000</valUSD>
        <pctVal>0.196074318031</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Adani Total Gas Ltd.</name>
        <lei>335800XLXJ32DBM6H567</lei>
        <title>Adani Total Gas Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE399L01023"/>
        </identifiers>
        <balance>41018.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>290762.01000000</valUSD>
        <pctVal>0.127239975674</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Balkrishna Industries Ltd.</name>
        <lei>3358006BD9NZGXG1I436</lei>
        <title>Balkrishna Industries Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE787D01026"/>
        </identifiers>
        <balance>11920.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>376903.35000000</valUSD>
        <pctVal>0.164936172665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>APL Apollo Tubes Ltd.</name>
        <lei>335800ZU4GXSB7Q4IU95</lei>
        <title>APL Apollo Tubes Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE702C01027"/>
        </identifiers>
        <balance>28696.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>548533.84000000</valUSD>
        <pctVal>0.240043162648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIC Housing Finance Ltd.</name>
        <lei>335800NFSMJ2ZKBCYP06</lei>
        <title>LIC Housing Finance Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE115A01026"/>
        </identifiers>
        <balance>44686.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>318575.30000000</valUSD>
        <pctVal>0.139411312442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Poonawalla Fincorp Ltd.</name>
        <lei>335800JFD5CDCM4KVL41</lei>
        <title>Poonawalla Fincorp Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE511C01022"/>
        </identifiers>
        <balance>40844.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>182102.13000000</valUSD>
        <pctVal>0.079689470407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jindal Stainless Ltd.</name>
        <lei>3358003QFQMSFDO7BP20</lei>
        <title>Jindal Stainless Ltd.</title>
        <cusip>Y44440116</cusip>
        <identifiers>
          <isin value="INE220G01021"/>
        </identifiers>
        <balance>47281.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>326903.61000000</valUSD>
        <pctVal>0.143055853082</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dabur India Ltd.</name>
        <lei>335800MJPUA2E1FSFL38</lei>
        <title>Dabur India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE016A01026"/>
        </identifiers>
        <balance>84764.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>489507.49000000</valUSD>
        <pctVal>0.214212720294</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grasim Industries Ltd.</name>
        <lei>335800WLY7FOIT3ERV21</lei>
        <title>Grasim Industries Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE047A01021"/>
        </identifiers>
        <balance>54636.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1772973.00000000</valUSD>
        <pctVal>0.775868351550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Maruti Suzuki India Ltd.</name>
        <lei>335800D27PBEESKKD357</lei>
        <title>Maruti Suzuki India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE585B01010"/>
        </identifiers>
        <balance>20190.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>2926614.93000000</valUSD>
        <pctVal>1.280712058989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SONA BLW Precision Forgings Ltd.</name>
        <lei>335800LEL76GE6551Q27</lei>
        <title>SONA BLW Precision Forgings Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE073K01018"/>
        </identifiers>
        <balance>59291.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>337519.84000000</valUSD>
        <pctVal>0.147701607343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nestle India Ltd.</name>
        <lei>3358008SYYY9CPWH5D94</lei>
        <title>Nestle India Ltd.</title>
        <cusip>Y6268T145</cusip>
        <identifiers>
          <isin value="INE239A01024"/>
        </identifiers>
        <balance>52643.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1487929.57000000</valUSD>
        <pctVal>0.651130876048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Coal India Ltd.</name>
        <lei>335800NLJQZNHM9LBB31</lei>
        <title>Coal India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE522F01014"/>
        </identifiers>
        <balance>332307.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1514084.32000000</valUSD>
        <pctVal>0.662576421337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tube Investments of India Ltd.</name>
        <lei>335800Z8CKZ11SGVKE64</lei>
        <title>Tube Investments of India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE974X01010"/>
        </identifiers>
        <balance>15250.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>522923.03000000</valUSD>
        <pctVal>0.228835650218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cholamandalam Investment and Finance Co. Ltd.</name>
        <lei>3358008DNPV45O4EII52</lei>
        <title>Cholamandalam Investment and Finance Co. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE121A01024"/>
        </identifiers>
        <balance>60236.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1065416.10000000</valUSD>
        <pctVal>0.466235319558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>360 One Wam Ltd.</name>
        <lei>335800DDYMCDBO5OLL32</lei>
        <title>360 One Wam Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE466L01038"/>
        </identifiers>
        <balance>33902.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>394893.16000000</valUSD>
        <pctVal>0.172808669442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zee Entertainment Enterprises Ltd.</name>
        <lei>254900EQIYPXZEO10B94</lei>
        <title>Zee Entertainment Enterprises Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE256A01028"/>
        </identifiers>
        <balance>122773.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>154383.05000000</valUSD>
        <pctVal>0.067559360752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Persistent Systems Ltd.</name>
        <lei>3358006QYD77Z66S1J89</lei>
        <title>Persistent Systems Ltd.</title>
        <cusip>Y68031106</cusip>
        <identifiers>
          <isin value="INE262H01021"/>
        </identifiers>
        <balance>15059.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>947734.64000000</valUSD>
        <pctVal>0.414736892690</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oil and Natural Gas Corp. Ltd.</name>
        <lei>335800FPDZ9MRSNO7N41</lei>
        <title>Oil and Natural Gas Corp. Ltd.</title>
        <cusip>Y64606133</cusip>
        <identifiers>
          <isin value="INE213A01029"/>
        </identifiers>
        <balance>568372.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1644631.48000000</valUSD>
        <pctVal>0.719704990034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Adani Ports and Special Economic Zone Ltd.</name>
        <lei>335800QOAXP5TM7OYP69</lei>
        <title>Adani Ports and Special Economic Zone Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE742F01042"/>
        </identifiers>
        <balance>107976.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1553416.78000000</valUSD>
        <pctVal>0.679788646736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IDBI Bank Ltd.</name>
        <lei>335800UL1OJYBFEAPY30</lei>
        <title>IDBI Bank Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE008A01015"/>
        </identifiers>
        <balance>84322.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>79779.24000000</valUSD>
        <pctVal>0.034912086888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NMDC Ltd.</name>
        <lei>335800IXHXOHQ7B2HP66</lei>
        <title>NMDC Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE584A01023"/>
        </identifiers>
        <balance>510155.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>391373.56000000</valUSD>
        <pctVal>0.171268461977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UltraTech Cement Ltd.</name>
        <lei>335800PC9O9B4BQHG814</lei>
        <title>UltraTech Cement Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE481G01011"/>
        </identifiers>
        <balance>16763.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>2309984.50000000</valUSD>
        <pctVal>1.010869238348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICICI Lombard General Insurance Co. Ltd.</name>
        <lei>335800ZZITZ7ZZZ2ZX87</lei>
        <title>ICICI Lombard General Insurance Co. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE765G01017"/>
        </identifiers>
        <balance>35401.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>786538.08000000</valUSD>
        <pctVal>0.344195880908</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kotak Mahindra Bank Ltd.</name>
        <lei>335800E6GTTXKHXE2I75</lei>
        <title>Kotak Mahindra Bank Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE237A01028"/>
        </identifiers>
        <balance>160324.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>4190200.47000000</valUSD>
        <pctVal>1.833668043070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Colgate-Palmolive (India) Ltd.</name>
        <lei>335800YWKI47DGFKWB26</lei>
        <title>Colgate-Palmolive (India) Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE259A01022"/>
        </identifiers>
        <balance>19463.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>596422.70000000</valUSD>
        <pctVal>0.260999742848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sun TV Network Ltd.</name>
        <lei>335800IW6TQ3AJJLEO48</lei>
        <title>Sun TV Network Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE424H01027"/>
        </identifiers>
        <balance>12558.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>92163.15000000</valUSD>
        <pctVal>0.040331393238</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kalyan Jewellers India Ltd.</name>
        <lei>335800EP35CO1QHM9P33</lei>
        <title>Kalyan Jewellers India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE303R01014"/>
        </identifiers>
        <balance>58309.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>356128.83000000</valUSD>
        <pctVal>0.155845062655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Linde India Ltd.</name>
        <lei>549300I8YN6PVG2KEU64</lei>
        <title>Linde India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE473A01011"/>
        </identifiers>
        <balance>3141.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>235306.13000000</valUSD>
        <pctVal>0.102972001938</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Indian Hotels Co. Ltd. (The)</name>
        <lei>33580076CH5SBY5HWA22</lei>
        <title>Indian Hotels Co. Ltd. (The)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE053A01029"/>
        </identifiers>
        <balance>121611.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1131537.97000000</valUSD>
        <pctVal>0.495170822963</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Container Corp. of India Ltd.</name>
        <lei>335800T2XH4HLGGQSJ32</lei>
        <title>Container Corp. of India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE111A01025"/>
        </identifiers>
        <balance>40657.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>324733.17000000</valUSD>
        <pctVal>0.142106049726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BSE Ltd.</name>
        <lei>335800UOTLCPTZQVDA19</lei>
        <title>BSE Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE118H01025"/>
        </identifiers>
        <balance>9727.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>735639.47000000</valUSD>
        <pctVal>0.321922208022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Steel Authority of India Ltd.</name>
        <lei>335800ZJXMF183ZCQI90</lei>
        <title>Steel Authority of India Ltd.</title>
        <cusip>Y8166R114</cusip>
        <identifiers>
          <isin value="INE114A01011"/>
        </identifiers>
        <balance>214029.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>288969.34000000</valUSD>
        <pctVal>0.126455487745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United Spirits Ltd.</name>
        <lei>3358004YFWQVX2EZDE82</lei>
        <title>United Spirits Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE854D01024"/>
        </identifiers>
        <balance>42310.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>782392.55000000</valUSD>
        <pctVal>0.342381761050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Indian Railway Finance Corp. Ltd.</name>
        <lei>335800F2JHSOGXQEBY56</lei>
        <title>Indian Railway Finance Corp. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE053F01010"/>
        </identifiers>
        <balance>263797.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>388347.00000000</valUSD>
        <pctVal>0.169944013089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Technologies Ltd.</name>
        <lei>335800C73TP3LSSF2S14</lei>
        <title>Tata Technologies Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE142M01025"/>
        </identifiers>
        <balance>24884.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>193921.79000000</valUSD>
        <pctVal>0.084861856067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HCL Technologies Ltd.</name>
        <lei>549300C1F8OLYSOQYB65</lei>
        <title>HCL Technologies Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE860A01027"/>
        </identifiers>
        <balance>154967.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>2874315.40000000</valUSD>
        <pctVal>1.257825331370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Indian Railway Catering and Tourism Corp. Ltd.</name>
        <lei>335800TVHEFK23CTJG98</lei>
        <title>Indian Railway Catering and Tourism Corp. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE335Y01020"/>
        </identifiers>
        <balance>44520.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>396328.14000000</valUSD>
        <pctVal>0.173436629128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Steel Ltd.</name>
        <lei>335800E6C75YGSGD5T66</lei>
        <title>Tata Steel Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE081A01020"/>
        </identifiers>
        <balance>1233060.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>2052404.04000000</valUSD>
        <pctVal>0.898149796545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bharat Petroleum Corp. Ltd.</name>
        <lei>8GRDBX1TJ0PU5NCSHT72</lei>
        <title>Bharat Petroleum Corp. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE029A01011"/>
        </identifiers>
        <balance>293680.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1076270.41000000</valUSD>
        <pctVal>0.470985259690</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alkem Laboratories Ltd.</name>
        <lei>335800GCAE5WIF4PSG69</lei>
        <title>Alkem Laboratories Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE540L01014"/>
        </identifiers>
        <balance>7646.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>463207.54000000</valUSD>
        <pctVal>0.202703634226</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Godrej Consumer Products Ltd.</name>
        <lei>335800P4GUWLGZFK2D63</lei>
        <title>Godrej Consumer Products Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE102D01028"/>
        </identifiers>
        <balance>53461.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>797335.69000000</valUSD>
        <pctVal>0.348921008629</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SJVN Ltd.</name>
        <lei>335800WHWSIB8LQQMH94</lei>
        <title>SJVN Ltd.</title>
        <cusip>Y80639100</cusip>
        <identifiers>
          <isin value="INE002L01015"/>
        </identifiers>
        <balance>106343.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>118115.48000000</valUSD>
        <pctVal>0.051688357781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KEI Industries Ltd.</name>
        <lei>335800UDWBC2AWPU7M56</lei>
        <title>KEI Industries Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE878B01027"/>
        </identifiers>
        <balance>8855.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>320950.95000000</valUSD>
        <pctVal>0.140450917473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Honeywell Automation India Ltd.</name>
        <lei>549300VS6C8LCO6XDI03</lei>
        <title>Honeywell Automation India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE671A01010"/>
        </identifiers>
        <balance>326.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>133265.99000000</valUSD>
        <pctVal>0.058318352269</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cochin Shipyard Ltd.</name>
        <lei>3358006BM5LULPW8CY42</lei>
        <title>Cochin Shipyard Ltd.</title>
        <cusip>Y166AP105</cusip>
        <identifiers>
          <isin value="INE704P01025"/>
        </identifiers>
        <balance>10487.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>197843.80000000</valUSD>
        <pctVal>0.086578161636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bandhan Bank Ltd.</name>
        <lei>335800Q13QAC32IOCH33</lei>
        <title>Bandhan Bank Ltd.</title>
        <cusip>Y0567Q100</cusip>
        <identifiers>
          <isin value="INE545U01014"/>
        </identifiers>
        <balance>116863.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>228967.40000000</valUSD>
        <pctVal>0.100198118751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Biocon Ltd.</name>
        <lei>335800NK3L7QCHLOC198</lei>
        <title>Biocon Ltd.</title>
        <cusip>Y0905C102</cusip>
        <identifiers>
          <isin value="INE376G01013"/>
        </identifiers>
        <balance>67585.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>257545.70000000</valUSD>
        <pctVal>0.112704230525</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bharat Forge Ltd.</name>
        <lei>3358009U5Z2BU2X3L230</lei>
        <title>Bharat Forge Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE465A01025"/>
        </identifiers>
        <balance>38375.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>502686.27000000</valUSD>
        <pctVal>0.219979868645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Syngene International Ltd.</name>
        <lei>335800FFAWRC77Z2EY68</lei>
        <title>Syngene International Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE398R01022"/>
        </identifiers>
        <balance>24299.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>182351.55000000</valUSD>
        <pctVal>0.079798618761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Reliance Industries Ltd.</name>
        <lei>5493003UOETFYRONLG31</lei>
        <title>Reliance Industries Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE002A01018"/>
        </identifiers>
        <balance>973720.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>16167962.33000000</valUSD>
        <pctVal>7.075240446929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Thermax Ltd.</name>
        <lei>33580013S142QYY9TR81</lei>
        <title>Thermax Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE152A01029"/>
        </identifiers>
        <balance>5721.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>222846.77000000</valUSD>
        <pctVal>0.097519678014</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bajaj Finance Ltd.</name>
        <lei>335800YTEXC3DO4Z6F68</lei>
        <title>Bajaj Finance Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE296A01024"/>
        </identifiers>
        <balance>40988.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>4182274.80000000</valUSD>
        <pctVal>1.830199701184</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>General Insurance Corp. of India</name>
        <lei>5493001L5RU4INMMUJ95</lei>
        <title>General Insurance Corp. of India</title>
        <cusip>Y2691A100</cusip>
        <identifiers>
          <isin value="INE481Y01014"/>
        </identifiers>
        <balance>45650.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>225458.10000000</valUSD>
        <pctVal>0.098662418655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lupin Ltd.</name>
        <lei>335800HHXTESDEE2FC65</lei>
        <title>Lupin Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE326A01037"/>
        </identifiers>
        <balance>35276.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>877211.89000000</valUSD>
        <pctVal>0.383875526054</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kansai Nerolac Paints Ltd.</name>
        <lei>335800XB33657OCBQS80</lei>
        <title>Kansai Nerolac Paints Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE531A01024"/>
        </identifiers>
        <balance>29990.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>91284.90000000</valUSD>
        <pctVal>0.039947063426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Power Finance Corp. Ltd.</name>
        <lei>3358003Q6D9LIJJZ1614</lei>
        <title>Power Finance Corp. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE134E01011"/>
        </identifiers>
        <balance>212948.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1030108.26000000</valUSD>
        <pctVal>0.450784302753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CRISIL Ltd.</name>
        <lei>335800XLQ1LWF1M6KM87</lei>
        <title>CRISIL Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE007A01025"/>
        </identifiers>
        <balance>2440.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>128600.84000000</valUSD>
        <pctVal>0.056276842196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aurobindo Pharma Ltd.</name>
        <lei>335800G4T2A353RDGM23</lei>
        <title>Aurobindo Pharma Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE406A01037"/>
        </identifiers>
        <balance>38870.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>566576.48000000</valUSD>
        <pctVal>0.247938778292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vedanta Ltd.</name>
        <lei>335800XDKX9KB5EMCO07</lei>
        <title>Vedanta Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE205A01025"/>
        </identifiers>
        <balance>231805.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1151035.05000000</valUSD>
        <pctVal>0.503702914156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fortis Healthcare Ltd.</name>
        <lei>3358001Q5ZJC4M83WH02</lei>
        <title>Fortis Healthcare Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE061F01013"/>
        </identifiers>
        <balance>71532.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>580070.25000000</valUSD>
        <pctVal>0.253843768997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mangalore Refinery and Petrochemicals Ltd.</name>
        <lei>335800IFZW2UY8KC5H11</lei>
        <title>Mangalore Refinery and Petrochemicals Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE103A01014"/>
        </identifiers>
        <balance>29692.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>47144.76000000</valUSD>
        <pctVal>0.020630955590</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Samvardhana Motherson International Ltd.</name>
        <lei>335800C7BQ19CKG8GH63</lei>
        <title>Samvardhana Motherson International Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE775A01035"/>
        </identifiers>
        <balance>409008.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>645761.84000000</valUSD>
        <pctVal>0.282590978145</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SBI Cards and Payment Services Ltd.</name>
        <lei>335800HN4Y9OTCFH4236</lei>
        <title>SBI Cards and Payment Services Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE018E01016"/>
        </identifiers>
        <balance>42689.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>441627.29000000</valUSD>
        <pctVal>0.193259929785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Apollo Hospitals Enterprise Ltd.</name>
        <lei>3358005YT7JQCWYLTG43</lei>
        <title>Apollo Hospitals Enterprise Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE437A01024"/>
        </identifiers>
        <balance>14541.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1201871.35000000</valUSD>
        <pctVal>0.525949319646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Consumer Products Ltd.</name>
        <lei>335800LOXFWU8ZQJMD12</lei>
        <title>Tata Consumer Products Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE192A01025"/>
        </identifiers>
        <balance>94562.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1304808.31000000</valUSD>
        <pctVal>0.570995425519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NTPC Ltd.</name>
        <lei>335800Q4TRGJXNLVMB81</lei>
        <title>NTPC Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE733E01010"/>
        </identifiers>
        <balance>693747.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>2906449.03000000</valUSD>
        <pctVal>1.271887286367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DLF Ltd.</name>
        <lei>335800PJLUEOB8914F48</lei>
        <title>DLF Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE271C01023"/>
        </identifiers>
        <balance>90926.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>725261.66000000</valUSD>
        <pctVal>0.317380788419</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Deepak Nitrite Ltd.</name>
        <lei>335800FKRXU8C9F4PI09</lei>
        <title>Deepak Nitrite Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE288B01029"/>
        </identifiers>
        <balance>10260.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>234894.22000000</valUSD>
        <pctVal>0.102791746552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Larsen &amp; Toubro Ltd.</name>
        <lei>3358003FR3JIC5FRXA90</lei>
        <title>Larsen &amp; Toubro Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE018A01030"/>
        </identifiers>
        <balance>98771.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>3909614.47000000</valUSD>
        <pctVal>1.710881177569</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Blue Star Ltd.</name>
        <lei>335800CWJUVEKQ1TE879</lei>
        <title>Blue Star Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE472A01039"/>
        </identifiers>
        <balance>18438.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>372641.33000000</valUSD>
        <pctVal>0.163071075773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UPL Ltd.</name>
        <lei>335800RJSM1SLHO4UA95</lei>
        <title>UPL Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE628A01036"/>
        </identifiers>
        <balance>77266.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>612773.54000000</valUSD>
        <pctVal>0.268155012148</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Titan Co. Ltd.</name>
        <lei>549300RO9VJWPK37FE54</lei>
        <title>Titan Co. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE280A01028"/>
        </identifiers>
        <balance>59786.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>2388570.12000000</valUSD>
        <pctVal>1.045258986779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lloyds Metals and Energy Ltd.</name>
        <lei>335800T4YOINEGMM8W27</lei>
        <title>Lloyds Metals and Energy Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE281B01032"/>
        </identifiers>
        <balance>17251.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>246519.40000000</valUSD>
        <pctVal>0.107879026078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Motilal Oswal Financial Services Ltd.</name>
        <lei>3358004GYYY6FUXX1P93</lei>
        <title>Motilal Oswal Financial Services Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE338I01027"/>
        </identifiers>
        <balance>20741.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>160683.53000000</valUSD>
        <pctVal>0.070316505407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bharat Dynamics Ltd.</name>
        <lei>335800B99NHE5ZGSGR16</lei>
        <title>Bharat Dynamics Ltd.</title>
        <cusip>Y0883D106</cusip>
        <identifiers>
          <isin value="INE171Z01026"/>
        </identifiers>
        <balance>13587.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>246162.52000000</valUSD>
        <pctVal>0.107722852297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jindal Steel &amp; Power Ltd.</name>
        <lei>335800UIKQBF6QO2NP15</lei>
        <title>Jindal Steel &amp; Power Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE749A01030"/>
        </identifiers>
        <balance>56988.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>605464.23000000</valUSD>
        <pctVal>0.264956394741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SRF Ltd.</name>
        <lei>335800436F28GT8ZW506</lei>
        <title>SRF Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE647A01010"/>
        </identifiers>
        <balance>20723.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>738520.99000000</valUSD>
        <pctVal>0.323183186149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hero MotoCorp Ltd.</name>
        <lei>335800Q49FBMZJTRLK49</lei>
        <title>Hero MotoCorp Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE158A01026"/>
        </identifiers>
        <balance>19164.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>868279.01000000</valUSD>
        <pctVal>0.379966420343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zydus Lifesciences Ltd.</name>
        <lei>335800R9O14ORBXLPN13</lei>
        <title>Zydus Lifesciences Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE010B01027"/>
        </identifiers>
        <balance>37295.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>392650.72000000</valUSD>
        <pctVal>0.171827358263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mahindra &amp; Mahindra Ltd.</name>
        <lei>3358003B573EV4KB4Z02</lei>
        <title>Mahindra &amp; Mahindra Ltd.</title>
        <cusip>Y54164150</cusip>
        <identifiers>
          <isin value="INE101A01026"/>
        </identifiers>
        <balance>129085.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>4472435.49000000</valUSD>
        <pctVal>1.957176534016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dr. Reddy's Laboratories Ltd.</name>
        <lei>335800OVDPY3DVZR2798</lei>
        <title>Dr. Reddy's Laboratories Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE089A01031"/>
        </identifiers>
        <balance>88854.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1247257.69000000</valUSD>
        <pctVal>0.545810775403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Varun Beverages Ltd.</name>
        <lei>33580058NWEMWBDNMD48</lei>
        <title>Varun Beverages Ltd.</title>
        <cusip>Y9T53H127</cusip>
        <identifiers>
          <isin value="INE200M01039"/>
        </identifiers>
        <balance>177759.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1097463.30000000</valUSD>
        <pctVal>0.480259452038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KPIT Technologies Ltd.</name>
        <lei>3358009MOTWWU66WMV49</lei>
        <title>KPIT Technologies Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE04I401011"/>
        </identifiers>
        <balance>24489.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>364734.49000000</valUSD>
        <pctVal>0.159610974058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CG Power and Industrial Solutions Ltd.</name>
        <lei>335800KN5UTZKUZN2703</lei>
        <title>CG Power and Industrial Solutions Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE067A01029"/>
        </identifiers>
        <balance>93766.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>694910.69000000</valUSD>
        <pctVal>0.304098940889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United Breweries Ltd.</name>
        <lei>335800ADAMN6EW1GCZ31</lei>
        <title>United Breweries Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE686F01025"/>
        </identifiers>
        <balance>10214.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>261208.98000000</valUSD>
        <pctVal>0.114307313604</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shriram Finance Ltd.</name>
        <lei>335800TM2YO24B76XL26</lei>
        <title>Shriram Finance Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE721A01047"/>
        </identifiers>
        <balance>187748.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1360555.19000000</valUSD>
        <pctVal>0.595390743378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Divi's Laboratories Ltd.</name>
        <lei>335800C1DHFG1C9T1M03</lei>
        <title>Divi's Laboratories Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE361B01024"/>
        </identifiers>
        <balance>18686.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1348825.19000000</valUSD>
        <pctVal>0.590257593711</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HDFC Bank Ltd.</name>
        <lei>335800ZQ6I4E2JXENC50</lei>
        <title>HDFC Bank Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE040A01034"/>
        </identifiers>
        <balance>824846.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>18735515.16000000</valUSD>
        <pctVal>8.198823818888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Central Depository Services (India) Ltd.</name>
        <lei>335800YRV56TH7RQVH27</lei>
        <title>Central Depository Services (India) Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE736A01011"/>
        </identifiers>
        <balance>15171.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>237197.40000000</valUSD>
        <pctVal>0.103799638082</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Housing and Urban Development Corp. Ltd.</name>
        <lei>335800KSC46MN2VPTI91</lei>
        <title>Housing and Urban Development Corp. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE031A01017"/>
        </identifiers>
        <balance>73047.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>193574.26000000</valUSD>
        <pctVal>0.084709773927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bajaj Auto Ltd.</name>
        <lei>335800DLAO5NCNN8G863</lei>
        <title>Bajaj Auto Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE917I01010"/>
        </identifiers>
        <balance>9825.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>933444.46000000</valUSD>
        <pctVal>0.408483386066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>3M India Ltd.</name>
        <lei>25490097AWWG536G0N08</lei>
        <title>3M India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE470A01017"/>
        </identifiers>
        <balance>415.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>148295.45000000</valUSD>
        <pctVal>0.064895374229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Macrotech Developers Ltd.</name>
        <lei>254900B5QCN52ETNU557</lei>
        <title>Macrotech Developers Ltd.</title>
        <cusip>Y5311S112</cusip>
        <identifiers>
          <isin value="INE670K01029"/>
        </identifiers>
        <balance>38113.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>599671.13000000</valUSD>
        <pctVal>0.262421283970</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Astral Ltd.</name>
        <lei>3358007M1SKFTVDRMC40</lei>
        <title>Astral Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE006I01046"/>
        </identifiers>
        <balance>17637.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>280696.31000000</valUSD>
        <pctVal>0.122835138113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rail Vikas Nigam Ltd.</name>
        <lei>8945004J7EIKTCOWI620</lei>
        <title>Rail Vikas Nigam Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE415G01027"/>
        </identifiers>
        <balance>83796.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>347821.70000000</valUSD>
        <pctVal>0.152209790567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Consultancy Services Ltd.</name>
        <lei>335800ZJKU9GPQRE2U66</lei>
        <title>Tata Consultancy Services Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE467B01029"/>
        </identifiers>
        <balance>151390.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>6179725.90000000</valUSD>
        <pctVal>2.704301614897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mahindra &amp; Mahindra Financial Services Ltd.</name>
        <lei>3358004E2XAMX9DYZM69</lei>
        <title>Mahindra &amp; Mahindra Financial Services Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE774D01024"/>
        </identifiers>
        <balance>86903.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>269552.20000000</valUSD>
        <pctVal>0.117958378988</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vedant Fashions Ltd.</name>
        <lei>335800EPS7Z6EH9QKD16</lei>
        <title>Vedant Fashions Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE825V01034"/>
        </identifiers>
        <balance>8999.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>82999.90000000</valUSD>
        <pctVal>0.036321475618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Premier Energies Ltd.</name>
        <lei>335800WBEGQHA5EB6C35</lei>
        <title>Premier Energies Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE0BS701011"/>
        </identifiers>
        <balance>9721.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>112873.86000000</valUSD>
        <pctVal>0.049394579438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Havells India Ltd.</name>
        <lei>549300U1LOGHTTNT7D47</lei>
        <title>Havells India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE176B01034"/>
        </identifiers>
        <balance>35259.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>667658.64000000</valUSD>
        <pctVal>0.292173207609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hindustan Petroleum Corp. Ltd.</name>
        <lei>335800DWLXIP7HFFY564</lei>
        <title>Hindustan Petroleum Corp. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE094A01015"/>
        </identifiers>
        <balance>133513.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>597524.10000000</valUSD>
        <pctVal>0.261481725034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACC Ltd.</name>
        <lei>335800569A6H12LH4677</lei>
        <title>ACC Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE012A01025"/>
        </identifiers>
        <balance>11984.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>266876.35000000</valUSD>
        <pctVal>0.116787403836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dr. Lal PathLabs Ltd.</name>
        <lei>984500E8E9CY102B9718</lei>
        <title>Dr. Lal PathLabs Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE600L01024"/>
        </identifiers>
        <balance>5143.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>168779.55000000</valUSD>
        <pctVal>0.073859393929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wipro Ltd.</name>
        <lei>335800IFS1IJHESG8362</lei>
        <title>Wipro Ltd.</title>
        <cusip>Y96659142</cusip>
        <identifiers>
          <isin value="INE075A01022"/>
        </identifiers>
        <balance>412478.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1178075.05000000</valUSD>
        <pctVal>0.515535852518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TVS Motor Co. Ltd.</name>
        <lei>335800URVL13UQEWM152</lei>
        <title>TVS Motor Co. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE494B01023"/>
        </identifiers>
        <balance>34635.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1094521.90000000</valUSD>
        <pctVal>0.478972269904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GlaxoSmithKline Pharmaceuticals Ltd.</name>
        <lei>3358002TNSC1U2DWNY52</lei>
        <title>GlaxoSmithKline Pharmaceuticals Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE159A01016"/>
        </identifiers>
        <balance>6275.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>220268.40000000</valUSD>
        <pctVal>0.096391360955</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Power Co. Ltd. (The)</name>
        <lei>335800H5R3TGTJ7LQ663</lei>
        <title>Tata Power Co. Ltd. (The)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE245A01021"/>
        </identifiers>
        <balance>214571.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>975010.84000000</valUSD>
        <pctVal>0.426673194219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dalmia Bharat Ltd.</name>
        <lei>335800Q2I12HTQ7ETZ32</lei>
        <title>Dalmia Bharat Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE00R701025"/>
        </identifiers>
        <balance>12227.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>280650.30000000</valUSD>
        <pctVal>0.122815003738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bharat Electronics Ltd.</name>
        <lei>335800HS8AOTM9W1F335</lei>
        <title>Bharat Electronics Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE263A01024"/>
        </identifiers>
        <balance>523755.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1948120.06000000</valUSD>
        <pctVal>0.852514223045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GAIL (India) Ltd.</name>
        <lei>335800N82LJD42ZA5L32</lei>
        <title>GAIL (India) Ltd.</title>
        <cusip>Y2682X135</cusip>
        <identifiers>
          <isin value="INE129A01019"/>
        </identifiers>
        <balance>386372.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>863749.87000000</valUSD>
        <pctVal>0.377984429424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HDFC Asset Management Co. Ltd.</name>
        <lei>3358002FLK8AK8WSEP31</lei>
        <title>HDFC Asset Management Co. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE127D01025"/>
        </identifiers>
        <balance>14744.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>764074.26000000</valUSD>
        <pctVal>0.334365518577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hindustan Aeronautics Ltd.</name>
        <lei>335800AKDC7T933T3I86</lei>
        <title>Hindustan Aeronautics Ltd.</title>
        <cusip>Y3199R108</cusip>
        <identifiers>
          <isin value="INE066F01020"/>
        </identifiers>
        <balance>27802.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1474299.42000000</valUSD>
        <pctVal>0.645166204272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Siemens Ltd.</name>
        <lei>335800HJQJFZ3CJLJ709</lei>
        <title>Siemens Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE003A01024"/>
        </identifiers>
        <balance>13053.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>447660.05000000</valUSD>
        <pctVal>0.195899917849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JSW Steel Ltd.</name>
        <lei>335800EK6HZSC4CVAJ09</lei>
        <title>JSW Steel Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE019A01038"/>
        </identifiers>
        <balance>147886.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1806752.97000000</valUSD>
        <pctVal>0.790650759201</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ajanta Pharma Ltd.</name>
        <lei>3358008XLYJJZBFBCK12</lei>
        <title>Ajanta Pharma Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE031B01049"/>
        </identifiers>
        <balance>6298.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>201702.42000000</valUSD>
        <pctVal>0.088266727191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Trent Ltd.</name>
        <lei>335800IYA8EHI7MW7G59</lei>
        <title>Trent Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE849A01020"/>
        </identifiers>
        <balance>26585.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1624987.00000000</valUSD>
        <pctVal>0.711108395323</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IRB Infrastructure Developers Ltd.</name>
        <lei>335800XGO3AITGW6AK27</lei>
        <title>IRB Infrastructure Developers Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE821I01022"/>
        </identifiers>
        <balance>424913.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>229600.77000000</valUSD>
        <pctVal>0.100475286952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MRF Ltd.</name>
        <lei>335800EQP78LTJ76DZ82</lei>
        <title>MRF Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE883A01011"/>
        </identifiers>
        <balance>377.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>599958.73000000</valUSD>
        <pctVal>0.262547140223</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federal Bank Ltd. (The)</name>
        <lei>335800J8VWGE2HGWF417</lei>
        <title>Federal Bank Ltd. (The)</title>
        <cusip>Y24781182</cusip>
        <identifiers>
          <isin value="INE171A01029"/>
        </identifiers>
        <balance>264339.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>615387.29000000</valUSD>
        <pctVal>0.269298811802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Embassy Office Parks REIT</name>
        <lei>335800O555A557E43Z08</lei>
        <title>Embassy Office Parks REIT</title>
        <cusip>Y2R9YR104</cusip>
        <identifiers>
          <isin value="INE041025011"/>
        </identifiers>
        <balance>128310.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>579677.79000000</valUSD>
        <pctVal>0.253672025100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Elxsi Ltd.</name>
        <lei>335800OWLDKWXSI48N33</lei>
        <title>Tata Elxsi Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE670A01012"/>
        </identifiers>
        <balance>5067.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>346173.05000000</valUSD>
        <pctVal>0.151488327038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Britannia Industries Ltd.</name>
        <lei>335800RRN5EVHNNAXN80</lei>
        <title>Britannia Industries Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE216A01030"/>
        </identifiers>
        <balance>17437.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1122576.97000000</valUSD>
        <pctVal>0.491249411696</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PI Industries Ltd.</name>
        <lei>335800PEGP94E4CC1D11</lei>
        <title>PI Industries Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE603J01030"/>
        </identifiers>
        <balance>11849.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>510409.80000000</valUSD>
        <pctVal>0.223359752315</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bajaj Holdings &amp; Investment Ltd.</name>
        <lei>335800NL7NWD9IPOHL48</lei>
        <title>Bajaj Holdings &amp; Investment Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE118A01012"/>
        </identifiers>
        <balance>3917.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>556879.24000000</valUSD>
        <pctVal>0.243695182020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Indian Oil Corp. Ltd.</name>
        <lei>335800J8OBWE4VFUDG88</lei>
        <title>Indian Oil Corp. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE242A01010"/>
        </identifiers>
        <balance>601001.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>979855.68000000</valUSD>
        <pctVal>0.428793338194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Muthoot Finance Ltd.</name>
        <lei>335800HAMJMBFL4RRF02</lei>
        <title>Muthoot Finance Ltd.</title>
        <cusip>Y6190C103</cusip>
        <identifiers>
          <isin value="INE414G01012"/>
        </identifiers>
        <balance>15828.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>407471.54000000</valUSD>
        <pctVal>0.178313077550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Schaeffler India Ltd.</name>
        <lei>5299002TPXA36O9CVB70</lei>
        <title>Schaeffler India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE513A01022"/>
        </identifiers>
        <balance>5977.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>245603.65000000</valUSD>
        <pctVal>0.107478285941</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Marico Ltd.</name>
        <lei>3358003SFDQFGJPC5O84</lei>
        <title>Marico Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE196A01026"/>
        </identifiers>
        <balance>76805.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>645728.27000000</valUSD>
        <pctVal>0.282576287622</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ITC Ltd.</name>
        <lei>335800WLOU3OFWFTMP43</lei>
        <title>ITC Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE154A01025"/>
        </identifiers>
        <balance>439366.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>2212206.97000000</valUSD>
        <pctVal>0.968080943761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oracle Financial Services Software Ltd.</name>
        <lei>3358008SYNPKSPNMTJ57</lei>
        <title>Oracle Financial Services Software Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE881D01027"/>
        </identifiers>
        <balance>3398.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>351127.69000000</valUSD>
        <pctVal>0.153656520445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Prestige Estates Projects Ltd.</name>
        <lei>335800HHEBP52VZLTU94</lei>
        <title>Prestige Estates Projects Ltd.</title>
        <cusip>Y707AN101</cusip>
        <identifiers>
          <isin value="INE811K01011"/>
        </identifiers>
        <balance>23542.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>383063.07000000</valUSD>
        <pctVal>0.167631719524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bharti Airtel Ltd.</name>
        <lei>335800KQ1FPKOQ84OR26</lei>
        <title>Bharti Airtel Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE397D01024"/>
        </identifiers>
        <balance>368559.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>8129767.24000000</valUSD>
        <pctVal>3.557656606723</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Petronet LNG Ltd.</name>
        <lei>335800KIIKNA7GRD9351</lei>
        <title>Petronet LNG Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE347G01014"/>
        </identifiers>
        <balance>111009.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>412133.74000000</valUSD>
        <pctVal>0.180353296678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LTIMindtree Ltd.</name>
        <lei>335800DY1I1WFHVV6T22</lei>
        <title>LTIMindtree Ltd.</title>
        <cusip>Y5S745101</cusip>
        <identifiers>
          <isin value="INE214T01019"/>
        </identifiers>
        <balance>13464.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>730684.80000000</valUSD>
        <pctVal>0.319754001487</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Glenmark Pharmaceuticals Ltd.</name>
        <lei>335800WKECZXIIT9GK20</lei>
        <title>Glenmark Pharmaceuticals Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE935A01035"/>
        </identifiers>
        <balance>22285.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>364432.05000000</valUSD>
        <pctVal>0.159478623693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco Government &amp; Agency Portfolio</name>
        <lei>5493007T1J7WZ5QI1A47</lei>
        <title>Invesco Government &amp; Agency Portfolio, Institutional Class</title>
        <cusip>825252885</cusip>
        <identifiers>
          <isin value="US8252528851"/>
        </identifiers>
        <balance>1710242.83000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1710242.83000000</valUSD>
        <pctVal>0.748417085462</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Whirlpool of India Ltd.</name>
        <lei>335800XP84MJSVAKMW93</lei>
        <title>Whirlpool of India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE716A01013"/>
        </identifiers>
        <balance>9080.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>135208.28000000</valUSD>
        <pctVal>0.059168315208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ICICI Bank Ltd.</name>
        <lei>R7RX8ER1V4666J8D1I38</lei>
        <title>ICICI Bank Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE090A01021"/>
        </identifiers>
        <balance>767208.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>12896216.73000000</valUSD>
        <pctVal>5.643496215423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tech Mahindra Ltd.</name>
        <lei>3358005FZUZ1I25XQH69</lei>
        <title>Tech Mahindra Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE669C01036"/>
        </identifiers>
        <balance>89170.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1586026.83000000</valUSD>
        <pctVal>0.694059087254</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Torrent Pharmaceuticals Ltd.</name>
        <lei>335800NA6HK275RIJE13</lei>
        <title>Torrent Pharmaceuticals Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE685A01028"/>
        </identifiers>
        <balance>15728.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>618538.25000000</valUSD>
        <pctVal>0.270677699208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eicher Motors Ltd.</name>
        <lei>25490059S64CN2OY7239</lei>
        <title>Eicher Motors Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE066A01021"/>
        </identifiers>
        <balance>20390.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1342710.96000000</valUSD>
        <pctVal>0.587581953670</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>National Aluminium Co. Ltd.</name>
        <lei>335800OM1V78CX7SSC72</lei>
        <title>National Aluminium Co. Ltd.</title>
        <cusip>Y6211M130</cusip>
        <identifiers>
          <isin value="INE139A01034"/>
        </identifiers>
        <balance>131838.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>244429.63000000</valUSD>
        <pctVal>0.106964524613</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Metro Brands Ltd.</name>
        <lei>894500HOIH518O40VN09</lei>
        <title>Metro Brands Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE317I01021"/>
        </identifiers>
        <balance>5488.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>69632.96000000</valUSD>
        <pctVal>0.030471986820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Max Healthcare Institute Ltd.</name>
        <lei>3358005LALYV4GZOYF67</lei>
        <title>Max Healthcare Institute Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE027H01010"/>
        </identifiers>
        <balance>108468.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1407291.68000000</valUSD>
        <pctVal>0.615843036477</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GE Vernova T&amp;D India Ltd.</name>
        <lei>549300NMRD6VZDFLN355</lei>
        <title>GE Vernova T&amp;D India Ltd.</title>
        <cusip>Y2683R111</cusip>
        <identifiers>
          <isin value="INE200A01026"/>
        </identifiers>
        <balance>18579.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>343930.32000000</valUSD>
        <pctVal>0.150506888952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Voltas Ltd.</name>
        <lei>335800VVTQSSZ7NV7F51</lei>
        <title>Voltas Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE226A01021"/>
        </identifiers>
        <balance>33620.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>492762.41000000</valUSD>
        <pctVal>0.215637101497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pidilite Industries Ltd.</name>
        <lei>335800APXGEBZ349GN74</lei>
        <title>Pidilite Industries Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE318A01026"/>
        </identifiers>
        <balance>22306.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>801902.16000000</valUSD>
        <pctVal>0.350919335480</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ipca Laboratories Ltd.</name>
        <lei>33580069PZ8ZQVCDBC38</lei>
        <title>Ipca Laboratories Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE571A01038"/>
        </identifiers>
        <balance>20154.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>334168.69000000</valUSD>
        <pctVal>0.146235115058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NHPC Ltd.</name>
        <lei>3358003ZPPTGWT595J46</lei>
        <title>NHPC Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE848E01016"/>
        </identifiers>
        <balance>436630.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>442538.20000000</valUSD>
        <pctVal>0.193658551896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ashok Leyland Ltd.</name>
        <lei>3358001BZKWERVWYCK35</lei>
        <title>Ashok Leyland Ltd.</title>
        <cusip>Y0266N143</cusip>
        <identifiers>
          <isin value="INE208A01029"/>
        </identifiers>
        <balance>206687.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>551791.16000000</valUSD>
        <pctVal>0.241468594112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AU Small Finance Bank Ltd.</name>
        <lei>3358006J6L5P5MWKCU97</lei>
        <title>AU Small Finance Bank Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE949L01017"/>
        </identifiers>
        <balance>53363.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>428432.23000000</valUSD>
        <pctVal>0.187485657165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Supreme Industries Ltd.</name>
        <lei>33580094NA85GD34LN25</lei>
        <title>Supreme Industries Ltd.</title>
        <cusip>Y83139140</cusip>
        <identifiers>
          <isin value="INE195A01028"/>
        </identifiers>
        <balance>9450.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>395827.18000000</valUSD>
        <pctVal>0.173217404690</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Torrent Power Ltd.</name>
        <lei>335800DJYYJQGAH3OX89</lei>
        <title>Torrent Power Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE813H01021"/>
        </identifiers>
        <balance>27801.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>506124.18000000</valUSD>
        <pctVal>0.221484327858</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Asian Paints Ltd.</name>
        <lei>335800HEHXGYRUNERD75</lei>
        <title>Asian Paints Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE021A01026"/>
        </identifiers>
        <balance>66572.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>1911918.85000000</valUSD>
        <pctVal>0.836672259785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Coromandel International Ltd.</name>
        <lei>335800U73K3HJSQKT249</lei>
        <title>Coromandel International Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE169A01031"/>
        </identifiers>
        <balance>18416.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>483389.83000000</valUSD>
        <pctVal>0.211535579255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bharti Hexacom Ltd.</name>
        <lei>335800GJ4U5YVWJGAP02</lei>
        <title>Bharti Hexacom Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE343G01021"/>
        </identifiers>
        <balance>11090.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>221567.32000000</valUSD>
        <pctVal>0.096959779605</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mphasis Ltd.</name>
        <lei>335800NSYTIQLQKUYP62</lei>
        <title>Mphasis Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE356A01018"/>
        </identifiers>
        <balance>16143.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>471468.08000000</valUSD>
        <pctVal>0.206318518126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ABB India Ltd.</name>
        <lei>5493001BUNB8WEF9JI21</lei>
        <title>ABB India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE117A01022"/>
        </identifiers>
        <balance>7768.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>507483.35000000</valUSD>
        <pctVal>0.222079112430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hindustan Zinc Ltd.</name>
        <lei>335800LB39TLJ8YTWM98</lei>
        <title>Hindustan Zinc Ltd.</title>
        <cusip>Y3224T137</cusip>
        <identifiers>
          <isin value="INE267A01025"/>
        </identifiers>
        <balance>54782.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>285428.19000000</valUSD>
        <pctVal>0.124905849813</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Solar Industries India Ltd.</name>
        <lei>3358002ANWRT2YJ79L60</lei>
        <title>Solar Industries India Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE343H01029"/>
        </identifiers>
        <balance>3563.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>554940.88000000</valUSD>
        <pctVal>0.242846938883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Uno Minda Ltd.</name>
        <lei>335800Y2G59FEIQRLG14</lei>
        <title>Uno Minda Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE405E01023"/>
        </identifiers>
        <balance>24879.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>263568.00000000</valUSD>
        <pctVal>0.115339641202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tata Motors Ltd.</name>
        <lei>335800BO2LHWJJ8TZI32</lei>
        <title>Tata Motors Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE155A01022"/>
        </identifiers>
        <balance>309411.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>2357928.63000000</valUSD>
        <pctVal>1.031850005179</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JSW Energy Ltd.</name>
        <lei>3358001ZFBW2VIMBMI85</lei>
        <title>JSW Energy Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE121E01018"/>
        </identifiers>
        <balance>78054.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>442914.99000000</valUSD>
        <pctVal>0.193823438466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Polycab India Ltd.</name>
        <lei>335800ZAL1L11ERZVW68</lei>
        <title>Polycab India Ltd.</title>
        <cusip>Y6S83Q102</cusip>
        <identifiers>
          <isin value="INE455K01017"/>
        </identifiers>
        <balance>7026.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>458481.15000000</valUSD>
        <pctVal>0.200635324997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shree Cement Ltd.</name>
        <lei>335800W6FNBDUZ89L830</lei>
        <title>Shree Cement Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE070A01015"/>
        </identifiers>
        <balance>1981.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>696444.49000000</valUSD>
        <pctVal>0.304770145063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hitachi Energy India Ltd.</name>
        <lei>549300ASJQYQLII9F213</lei>
        <title>Hitachi Energy India Ltd.</title>
        <cusip>N46774200</cusip>
        <identifiers>
          <isin value="INE07Y701011"/>
        </identifiers>
        <balance>1560.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>267630.56000000</valUSD>
        <pctVal>0.117117452669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>L&amp;T Technology Services Ltd.</name>
        <lei>335800OITXHL9VYVRC58</lei>
        <title>L&amp;T Technology Services Ltd.</title>
        <cusip>Y5S4BH104</cusip>
        <identifiers>
          <isin value="INE010V01017"/>
        </identifiers>
        <balance>3898.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>195849.09000000</valUSD>
        <pctVal>0.085705259251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Indraprastha Gas Ltd.</name>
        <lei>33580033VPD8D168H736</lei>
        <title>Indraprastha Gas Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE203G01027"/>
        </identifiers>
        <balance>103629.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>235611.77000000</valUSD>
        <pctVal>0.103105752651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bharti Airtel Ltd.</name>
        <lei>335800KQ1FPKOQ84OR26</lei>
        <title>Bharti Airtel Ltd.</title>
        <cusip>Y0885K140</cusip>
        <identifiers>
          <isin value="IN9397D01014"/>
        </identifiers>
        <balance>24687.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>412855.36000000</valUSD>
        <pctVal>0.180669083845</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of Maharashtra</name>
        <lei>3358006F5LXCNN65HW12</lei>
        <title>Bank of Maharashtra</title>
        <cusip>Y0694M105</cusip>
        <identifiers>
          <isin value="INE457A01014"/>
        </identifiers>
        <balance>229323.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>137738.02000000</valUSD>
        <pctVal>0.060275351358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Exide Industries Ltd.</name>
        <lei>335800X6SNGIZCBA9V34</lei>
        <title>Exide Industries Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE302A01020"/>
        </identifiers>
        <balance>67931.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>282107.69000000</valUSD>
        <pctVal>0.123452770234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIA Engineering Ltd.</name>
        <lei>3358009DFG4JFX1O8H85</lei>
        <title>AIA Engineering Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE212H01026"/>
        </identifiers>
        <balance>5717.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>216305.24000000</valUSD>
        <pctVal>0.094657047789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sun Pharmaceutical Industries Ltd.</name>
        <lei>335800KJ7GE29LB4SS73</lei>
        <title>Sun Pharmaceutical Industries Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE044A01036"/>
        </identifiers>
        <balance>159414.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>3457458.88000000</valUSD>
        <pctVal>1.513013972452</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Oil India Ltd.</name>
        <lei>335800XXEP14XISP1A16</lei>
        <title>Oil India Ltd.</title>
        <cusip>Y64210100</cusip>
        <identifiers>
          <isin value="INE274J01014"/>
        </identifiers>
        <balance>80603.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>391707.63000000</valUSD>
        <pctVal>0.171414653905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Axis Bank Ltd.</name>
        <lei>549300HVNWMJPOFVNI41</lei>
        <title>Axis Bank Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE238A01034"/>
        </identifiers>
        <balance>334997.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="INR" exchangeRt="84.48375000"/>
        <valUSD>4699040.51000000</valUSD>
        <pctVal>2.056340854804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-05-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Invesco India Exchange-Traded Fund Trust</ncom:nameOfApplicant>
      <ncom:signature>Adrien Deberghes</ncom:signature>
      <ncom:signerName>Adrien Deberghes</ncom:signerName>
      <ncom:title>Vice President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
