Major Indian online investment platforms are unlocking access to U.S. stocks for millions of retail investors eager to diversify into global assets as the country's markets continue to underperform.
Earlier, access to U.S. markets and exchange-traded funds was limited to wealthier Indians, via global banks and wealth management firms.
Groww, an Indian investment platform that accounts for more than 29% of the country's 46 million active investors across stock brokerages, rolled out the U.S. equity trading feature earlier this month, Harsh Jain, chief operating officer and co-founder of the company, told CNBC.
NVIDIA, SpaceX, Apple, Alphabet, Amazon, Micron and Meta are the most popular companies among early users, Jain said, whose firm has provided access to more than 10,000 U.S. stocks, exchange-traded funds and fractional share ownership.
Zerodha, the second-largest trading platform with a 15% share of active clients as per NSE data, has also started beta testing access to U.S. stocks and plans to launch in a few weeks, the company told CNBC.