They are likelier to take risks than their elders, departing from the asset investments typical in India.Millennials in India might be changing the country's stock market.
The influx of young investors is a similar story around the world, but an especially positive sign for India's economic development, as active investor accounts increased to a record 10.4 million in 2020. Only 3.7% of the country's 1.36 billion people invest in equities, per Bloomberg, compared to 12.7% in China and 55% in the US.
It also signals that internet adoption is extending to areas of the country beyond the big cities of Mumbai and New Delhi. Securities firm Angel Broking told Bloomberg that more than 50% of its new customers in its fourth quarter were from"smaller cities and towns."
Yo where are these millineals in India getting money to invest?
They have a stock market ? I’m shocked, good for them