PersonalFn has an article they take a look at what an ETF is and how it is different from Mutual Funds.
In India, the first ETF was Benchmark's Nifty BeES, listed in 2001. Not yet popular because of the demat requirement and also the fact that no agent this product.
But for a disciplined, long term investor, I recommend ETFs all the time. Reason 1: Low cost structure, Reason 2: As good a return as the benchmarks (Nifty in the Benchmark's BeES)
Read the entire article on my website