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Indian wealth-tech segment set to grow 3x to $ 60 billion opportunity by FY25

"Indian wealth-tech segment is expected to grow 3x to $60 billion by FY25 from $20 billion in FY20, driven by higher adoption of digital platforms and a growing base of investors", as per a report by RedSeer Consulting.

The report, titled Wealthtech market in India, noted that only 2 percent of Indians invest in stocks at present, compared to developed economies like the US, where 55 percent of Americans invest in stocks.

The report estimated that currently India has about 4 million wealth-tech investors (FY20) and the number is expected to grow by 3x to reach about 12 million by FY25. This growth will be driven by high awareness and usage of digital platforms across equity and mutual fund investments; rise in investors from ‘Bharat’ (tier-II cities and beyond) driving adoption of digital platforms; and digital-savvy millennials with higher disposable incomes making investments via digital platforms, it added.

Smoother and hassle-free customer journeys on digital platforms are leading to higher customer satisfaction, which in turn will give a strong stimulus to digital platforms.Wealthtech is certainly emerging as the next big frontier for fintech in India. With Indian investors increasingly getting aware of the benefits of going digital, there is a significant action in the market both in terms of players as well as investments,” RedSeer Consulting Head India Consulting Abhishek Chauhan said.

Disclaimer: The views expressed here are of the author and do not reflect those of Finkompas. 

Finkompas is a leading financial technology company that aims to simplify your financial life by providing you great financial products - stocksmutual funds & loans.

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