The stock market loved by Warren Buffett and Jeff Gundlach is about to get a powerful boost

India's stock market is attracting investor attention from around the world.

Jeff Gundlach, founder and chief executive officer of DoubleLine Capital, has called India his "favorite stock market."

In a recent interview with Business Insider, Martin Gilbert, the head of the UK-based Aberdeen Asset Management, said India is the best market out of all emerging markets.

And Warren Buffett described India as a "huge, enormous market, " adding that "the potential for India is incredible."

Now, India's stock exchanges are set to get a boost from Indian households, which are increasingly turning to equities as a place to park their more than $450 billion in savings.

French bank Societe Generale says it has observed a notable shift in Indian savings from traditional interest-bearing accounts and physical assets-like cash and real estate-to equities.

"Household saving, which accounts for the lion's share of gross domestic savings (GDS), has seemingly been undergoing an important structural shift of late," write analysts Kunal Kumar Kundu and Rajat Agarwal.

"The share of financial assets in household savings has remained fairly stable, while savings in physical assets have been falling at a fast pace, indicating a sharp rise in the accumulation of financial savings."

Now, those savings are pouring into equities markets like India's benchmark Sensex index, which has in turn seen a 14% rally over the past year.

"We can expect this leg of liquidity to remain strong for quite some time," says Societe Generale.