Indicating an improved investment capacity of the people in Uttar Pradesh, the state now ranks among the top three states with the highest population investing in the stock market.
Citing the Bombay Stock Exchange (BSE) statistics of state-wise registered investors in India, the UP government on Thursday claimed of the total registered investors in India numbering 69 million, UP ranks third with 5.2 million investors.
Maharashtra tops the tally with 14.9 million investors followed by Gujarat with 8.59 million investors. As such, the top three states viz. Maharashtra, Gujarat and UP collectively account for almost 42 percent of the total registered investors.
The data, as on June 2, 2021, showed that Tamil Nadu and Karnataka ranks fourth and fifth with 4.23 million and 4.22 million investors respectively. Other major states in this league include West Bengal (3.95 million), Delhi (3.73 million) and Andhra Pradesh (3.6 million).
According to a senior UP government official, the state’s Gross State Domestic Product (GSDP) had grown at a CAGR of around 8.43 percent between 2015-16 and 2020-21, which had enabled higher disposable income of the people to invest in the share market.
“Agriculture and service sector are among the drivers of economy that have led to a steady increase in people’s income and consequently in investment profile,” he noted.