U.S. Stocks (DJIA) versus Indian Stocks(Sensex) .....graph analysis

I'm comparing this graph (Graph source: yahoo.com) Indian Stocks (Sensex) versus the U.S. Stocks (Dow Jones Industrial Average).

Red line = DJIA

Blue Line = Sensex

Note that the graph is a linear one, not logarithmic.

Well, I find something fishy over here.

Sure, the Indian economy IS GROWING at a fast paced, blistering rate. The U.S. economy is slowing down.

But is the DIFFERENCE so great ????

And this is a percentage % increase graph.......so that's why I think the Indian stocks are quite ..................
OVER-VALUED.

Note the extremely SHARP RISE OF THE GRAPH AFTER 2005 !

Just too steep a gradient. Beats me......