Murdoch unveils India Titans 30 Index to track stock market performance of blue chip cos.

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The final composition of the index is based on the ranking by free float market capitalization and 12 months average daily trading volume. The three biggest sectors represented in the index are Financials, Basic Materials, and Oil & Gas.

The full list of companies, including weighting and values of the Dow Jones India Titans 30 Index, is available on www.djindexes.com.

The index, Murdoch said, would track the "stock market performance of prominent Indian companies" like Reliance Industries, Infosys Technologies, HDFC, Bharti Airtel and Larsen and Toubro.

"It will be licensed to financial institutions as the basis of investment products, such as exchange-traded funds," he said.

According to Murdoch, the index is "a trusted means of measuring this country's development" and, using the index, investors around the world would be able to track the progress of Indian companies and the Indian economy. "We will see huge capital flows both from and to India in coming years and that is an opportunity for us as a financial information company, as well as for international investors who want to take advantage of this profound trend," he added.

"Dow Jones has lots of investment plans in India. The growing importance of India to the world and to Dow Jones and News Corporation is obvious to all," Murdoch said, adding the editorial staff at Dow Jones Newswires in India would be more than doubled to 70 from the present 25.

In addition, Murdoch also said Dow Jones would launch the Global Dow index which would track the performance of a diverse basket of stocks, including companies from emerging markets, like India, and emerging industries, like alternative energy.

"The world is changing and how we measure that change economically and financially is clearly a challenge and an opportunity. We have seen a reweighting of risk around the world, but the world itself is being economically rerated and so we need an index that allows investors to take advantage of these changes. Indian companies will obviously have a place in The Global Dow as will companies from other emerging countries where we have seen an unprecedented economic emancipation over the past two decades," Murdoch said.

Wall Street Journal editors would select the components of the Global Dow, as they now do with the Dow Jones Industrial Average (DJIA), which tracks thirty of the largest public companies in the US.

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