India-based Online Trading Platform Upstox Reports Steady Business Growth

Puneet Maheshwari, Director at Upstox, which supports powerful investing and trading made simple, and claims to be trusted by Indian consumers, reveals that Upstox is “an online trading app for Demat Account, Share Market, MF, IPO with 10 million+ customers.”

Backed by Ratan Tata and venture capitalists such as Tiger Global, Upstox “offers a best-in-class technology-enabled trading platform.”

Headquartered in Mumbai, Upstox holds memberships “with the NSE, BSE, MCX, and MCX-SX.”

Puneet Maheshwari, Director at Upstox, notes that the year 2022 has “been a significant one for India’s investment market, wherein we witnessed some remarkable milestones.”

Maheshwari added a landmark occurrence “was the total number of demat accounts in India crossing the 10-crore mark this year, clearly depicting the increasing awareness and interest in equity participation.”

Maheshwari also mentioned that a major driver of this trend “can be attributed to the new age investing platforms with strong technology infrastructure have given investing access to users across the nation.”

Mirroring this surge, at Upstox they too, “crossed 10 million customer base in May 2022,” Maheshwari claims.

This year India has “seen modest growth.” In July to September there “were six major economies – Malaysia, Greece, the Philippines, Israel, Colombia and Argentina with growth higher than the 6.3 per cent which India achieved in the April to September quarter of this fiscal.”

Growth by the year end is “unlikely to be vastly different.”

Maheshwari adds that few of the macroeconomic factors “for this include inflation, fear of recession, volatile markets etc.”

Maheshwari also noted:

“However, we witnessed some positivity after nearly two years of social, financial and economic uncertainty and we expect that with more financial power in the hands of citizens will lead to surging equity participation and a stronger economy in the coming years. According to reports, by 2027, India’s economy will rank third in the world, and by the end of the decade, its stock market will rank third. Economic growth will be more robust, equity participation will rise, and citizens will hold more financial sway. This is a very positive indication of where the future of India is headed.”

Maheshwari concluded:

“At Upstox, it is our endeavor to contribute to Bharat’s growth story, and we plan to do so by providing our users with the best services, backed by superior, robust and unmatched technological infrastructure.”

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