One of the biggest economies in our world is India. It is probably the second biggest economy in Asia. Trailing only to China and India has been driving in a lot of departments. But I only like money. So I will be focusing on the Indian markets. If it really matters to you, then there are a lot of things to talk about about India and its economy. It is booming in production and manpower along with the new lucrative market of the stock exchange and crypto. And these are things that people should actually know because the more thriving the economy is the more part of the global collective it controls.
First, let's go to the traditional stock market. The Indian national stock exchange for NSE provides some useful data to understand the landscape India introduced. A certain kind of ID for the citizens of the country which is digital and it has made signing up different things very very easy. As a result, due to this digitalized ID, opening accounts for a stock exchange has also become easy and this has brought a surge in retail investors across the country. So much so that there are beliefs that investors are almost half if not more of the total investing landscape inside the country. This major portion of retail investors will soon shift overall sentiment and the mood in the Indian stock exchange.
Then comes crypto. Even though there is a steep tax on crypto in the country. The general people are more and more aware of this technology and they are more comfortable in taking these risks than before. As a result there are over 100 million traders inside India and they cumulatively trade many billions of dollars in value. Yes, the tax rate is a mess, but this current trend of crypto in that country among the retail investors and the young people will create a foundation.
The combined facts of the national identification system being so robust and mobile has made easy for people to get on to trading and since this the same people are quite educated and they understand crypto better than before. If only the government shed some eye into this technology and maybe does something about those tax rates then I guess India would be a booming crypto economy.
