Tarannum Manjul
Lucknow, Uttar Pradesh
Indicating improved spending and investing capacity of the residents of the state, Uttar Pradesh now figures on the third place in the list of states that have the highest stock investing population. This is a clear indication that the state’s economy is improving.
According to the statistics of the Bombay Stock Exchange that have been procured by the state government, out of the total registered investors in India numbering to 6.9 crores, UP accounts for 52.3 lakh, which is the third highest number in the country.
Maharashtra, with the highest number of 1.49 crore investors, tops the list while Gujarat, with 85.9 lakh investors, occupies the second place. The data shows that Tamil Nadu with 42.3 lakh, and Karnataka with 42.2 lakh investors, are placed on the fourth and fifth positions, respectively. Other states down the line are West Bengal (39.5 lakh), Delhi (37.3 lakh) and Andhra Pradesh (36 lakh).
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The statistics for UP are remarkable in the sense that the state’s Gross State Domestic Product (GSDP) grew at a CAGR of around 8.43% between 2015-16 and 2020-21. Agriculture and the service sector are among the drivers of the economy that have led to a steady increase in people’s income and consequently in investment.
