Can I get Indian market exposure using US-domiciled ETFs instead of Indian mutual funds?

Yes, and it's the clean solution for US tax residents. US-domiciled ETFs and mutual funds that invest in Indian or emerging-market equities are not PFICs — they report on a standard 1099, qualify for long-term capital-gains rates, and require no Form 8621. Several large fund families offer India-focused or broad emerging-market ETFs that capture similar exposure to what you'd get from an Indian mutual fund, without the punitive paperwork or tax. You hold them in your regular US brokerage account at Fidelity, Vanguard, Schwab, or similar. This lets you keep a tilt toward Indian growth if you want it, while staying entirely inside the friendly US tax system. Decide your overall stock allocation first, then choose funds. wealthserene.com/tools/portfolio-builder can help you size the position.