Anyone looking to make investments in foreign markets may look towards India after a prediction of its economic future.

According to investment firm FC, the country's young population is driving consumer demand while government investment has driven economic growth, meaning the next decade could see India dominating the headlines.

Sam Mahtani, manager of the FC Indian Investment Company, said that metal and mining could be big areas of growth, especially with increasing consumer demand.

He added: I also see a huge opportunity in financial services - there are over one billion people in India but only 50 million bank accounts and 20 million credit cards .

There is massive potential for growth across the product ranges. Pharmaceuticals is another key theme, with Indian drugs companies well positioned to benefit from expertise, low cost base and integrated business models.

HSBC recently announced the extension of the India Equity Fund, a product that provided a 131.5 per cent return for investors in 2009.