The survey details different investment avenues and purposes which could be beneficial to further unlock the potential of this market.
Groww, India’s leading investment platform, announced the findings of its survey on financial investments preferred by Indian investors ahead of the festive season. The survey was conducted with investors aged 18 and above to understand if the festive season impacts their investment decisions. The survey details different investment avenues and purposes which could be beneficial to further unlock the potential of this market.
India’s increased financial literacy coupled with the pandemic has led to a steep rise in the investor community, especially among the younger population. According to the survey, nearly 76% of the respondents are first-time investors, and 69% of respondents have been investing for less than a year. Seasoned investors who’ve been in the market for more than 5 years account for only 5.7%. Of the total survey respondents, Gen Z (18-24 years) and Gen Y (25-30 years) lead the chart as first-time investors, with 39% and 34% respectively.
Stock market investing alluring young investors
Key highlights: Overall, among investors, stocks and mutual funds top the charts, at 87% and 58% respectively.
Decoding the purpose driving India’s investments during the festive season
Key highlights: The top 2 drivers for investments will be creating long-term wealth and general savings. The survey also highlights that retirement planning is one of the top investment priorities for investors aged 40 years and above. On the other hand, tax savings doesn’t influence investment decisions, with only 3% of investors considering moving their investments in the tax-savings asset class options, this festive season.
Analyzing the impact of the festive season on Indian investors
Source: Business World