India provides tremendous opportunities for financial inclusion via penetration and development in the Indian equity market today, a survey conducted by Nielsen Company said.
The top 5 cities in India contribute 84 per cent to trading in 2009-10, a figure up by 6 per cent from 2001-02. Cash trading volumes from Mumbai and Delhi alone account for 65 per cent of cash trading and 60 per cent of mutual funds volume.
The survey polled 1,207 current and potential retail investors from 12 cities across all geographic zones and levels of development, ages and occupation; 60 corporate, including banks and financial institutions, from the 4 metros and 120 SMEs from clusters in 12 cities throughout India.
There is also a great opportunity to impart financial knowledge. Nearly 94 per cent of retail investors have shown a strong willingness to participate in financial training programmers if they were to be offered in their vicinity.
The survey identified an appreciation of mobile phones as an enabler, a positive perception of competition as delivering better services and lowering trading costs and a desire for receiving financial training across the country. A clear majority of 56 per cent of retail investors across the country see mobile phones as the preferred channel that will likely enable them to participate in the equity market.
Source:Economic Times
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