According to a report by Standard Chartered Bank, the Indian economy is Asia's most investment savvy economy. A study of 11000 affluent customers initiated by the bank revealed its finding- Over two-thirds preferred to use various investment products to achieve financial goals and greater social mobility.
The bank studied affluent customers across Asia, Africa and Middle-east and found 68% Indians belonging to a segment that used investment products to fuel their financial goals.
Investment products referred to fixed income investments such as stocks, equities, mutual funds, unit trusts, investment-linked insurance, self-invested pension funds, real estate investment trusts (REITS) and real estate property funds.
The study said, 31% of emerging affluents opted for investing in mutual funds, while a 22% respondents preferred investing in equities.
The study also found that the top priority for Indians under the emerging affluents category was to save towards children education.
Shyamal Saxena, the bank's Head for Retail Banking division in India said that it was exciting to see social mobility booming among emerging affluents, and that they are outstripping parents' success in education, careers and home ownership.
Saxena further explained, "digital financial products are enabling the emerging affluents to achieve their goals, and these tools will be crucial in helping them take their personal financial success to the next level".