India's second largest cellphone company, Reliance Communications, just blew the doors off of its earnings. Net profits were up 46% to $374 million, and the company brought on 4.8 million new mobile users, boosting its total to 45.8 million. As you'd expect, the stock jumped 300% in the last two years before pulling back with the market in January.

It's no wonder that Reliance is on fire... India's mobile market is growing at a faster rate than any other country. Indians are buying phone plans at the rate of 10 million a month!

And it's just getting started. The total number of phones, both fixed and cellular, was 300.51 million at the end of March. India only just subscribed its 100 millionth user in May 2006, and cleared the 200-million mark in September 2007. There are 1.148 billion people in India, and cellphone penetration in Europe is 80-90%.

This is the type of growth that happens when poor people join the middle class. And it's happening across all industries.

Indian GDP has averaged 8.7% over the past four years. Indians are confident that the good times are here and will stay here. This is proven by the fact that loans and deposits at State Bank have increased 23% last year, and loans increased 25%.

Indians are spending money at a torrid pace, albeit a less torrid pace than last year. Credit growth in India slowed to 21% in the last 12 months, down from a rocket-fueled 28% last year.

India has hit a virtuous cycle in its assent to modernity. The Nobel Prize-wining economist Simon Kuznets theorized that once an emerging market crosses a certain level above subsistence, its market and economy expand rapidly. Roads are built lowering the cost of transporting goods. Stable electricity allows people to buy and stock refrigerators. People buy more stuff. This leads to greater resources to build more infrastructure, hospitals and schools. This creates more jobs and education while lowering costs, increasing profits, and so on.

I call this a "prosperity bubble," and we are seeing its rapid expansion going on right now in India. The country has plans to spend at least $500 billion on infrastructure over the next four years. This spending will go into things like railroads, highways and power grids. This will create a massive wave of new jobs. People will buy things like TVs, cellphones, houses and cars.

Companies that make and sell these things will see rapid increases in revenue. Share prices will go up. I've found at least one such company that will directly benefit from this wave of prosperity... it's all in the free report you can access here.