Lalit Keshre, co-founder and CEO of Groww, said at the NDTV World Summit on Tuesday that mutual funds continue to be the most attractive investment vehicle for retail investors and there are many innovations coming in the sector. Mr Keshre, who started Groww in 2016 with three other co-founders, spoke about the massive growth in retail investment in India and the significant increase in investor confidence during a fireside chat on Day 2 of the summit. Talked.

Increase in equity investment

Mr. Cashre credited the introduction of Aadhaar and UPI for reducing barriers to internet connectivity, and access to investment platforms, with the platforms making it easier and more transparent.

“Earlier, investment was limited to cities like Mumbai and Bangalore, some cities in Gujarat. Now a lot of customers are from small towns because a lot of information that was missing is now available at everyone’s fingertips. It’s a very The big fundamental change is the long term trend started in 2015-16 and we were lucky to start at that time.

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Homecoming

Groww was launched in 2016 and recently moved its headquarters from the US to India. On whether this would increase his tax liability, Mr Cashre said, “That is the price you pay. But in the long term, I think it will be very good for us.”

“Groww is an Indian company. The customers and management are in India and all operations are in India. So, it didn’t make sense to be out of India. We are a YC company, so we had to register in the US but are now there. “No, there is no reason why we should not stay in India,” he said. A “YC Company” means a firm that has been through the Y-Combinator Startup Accelerator Program.

IPO soon?

Mr. Cashre did not say whether Grove plans to go public anytime soon. Asked when the discount broker might file for its IPO, he said, “Maybe sometime. It’s somewhere down the line, but we don’t know when.”

The next stage of development

Mr Cashre said it was difficult to predict what the next big phase of growth would be and that mutual funds remained the most attractive product for retail investors. “There’s going to be a lot of innovation there as well,” he added.

Retail investors and F&O

Asked about regulatory concerns and if he thinks retail investors need to be protected from derivatives trading, he said, “There are some things where customer protection is very important. From that perspective, I think we are headed in the right direction.”

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The next big innovation

Asked if Groww is working on its next big innovation, he said the company operates like an innovation factory rather than focusing on one big idea. “It’s very boring under the hood, but what comes out is very exciting for consumers,” he added.

What the fintech world needs.

Mr. Cashre said that fintech industry needs huge investment for infrastructure development as it is very complex. “We have about 400 engineers working to get things right because it’s about customers’ hard-earned money,” he said. is secondary.”

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