Creating long-term wealth and general savings are the top reasons for India’s youth to invest during this festive season, reveals a Groww survey

Pune (P&V news service):- Groww, India’s leading investment platform, announced the findings of its survey on financial investments preferred by Indian investors ahead of the festive season. The survey was conducted with investors aged 18 and above to understand if the festive season impacts their investment decisions. The survey details different investment avenues and purposes which could be beneficial to further unlock the potential of this market.

India’s increased financial literacy coupled with the pandemic has led to a steep rise in the investor community, especially among the younger population. According to the survey, nearly 76% of the respondents are first-time investors, and 69% of respondents have been investing for less than a year. Seasoned investors who’ve been in the market for more than 5 years account for only 5.7%. Of the total survey respondents, Gen Z (18-24 years) and Gen Y (25-30 years) lead the chart as first-time investors, with 39% and 34% respectively.