Major Indian online investment platforms are opening up access to US stocks for millions of retail investors seeking to diversify into global assets as Indian markets continue to underperform.
Groww, which accounts for more than 29% of India’s 46 million active investors across stock brokerages, rolled out US equity trading earlier this month. The platform offers access to more than 10,000 US stocks and exchange-traded funds (ETFs), along with fractional share ownership, chief operating officer and co-founder Harsh Jain told CNBC.
Nvidia, SpaceX, Apple, Alphabet, Amazon, Micron and Meta are among the most popular companies with early users, Jain said.
Zerodha, India’s second-largest trading platform with a 15% share of active clients, has started beta testing access to US stocks and plans to launch the feature in a few weeks, the company told CNBC. Angel One, which has 6.7 million active retail clients, is also reportedly planning to introduce US stock trading.
“There has always been latent demand in India for investing in global companies,” Somnath Mukherjee, vice president of corporate development at Zerodha, told CNBC.