Savings from Indians are shifting quickly from traditional real estate and gold to stocks and bonds, which has the potential to alter the dynamics of the capital markets.
According to rating agency Crisil, financial savings will increase from Rs. 135 lakh crores or 57 per cent last fiscal year to Rs. 315 lakh crores, or 74 per cent of the GDP, by 2027.
According to Ashish Vora, President & Head of CRISIL, “As of last fiscal, the managed funds industry’s AUM amounted to 57% of India’s gross domestic product.”