The top 10 cities of India contribute at least 70-80% of investments into mutual funds (MFs). The number of demat accounts (estimated about 15 million) is not a mirror of the huge investment potential of individuals, when you look at the national savings rate of about 32%. The question is do we want pockets of affluence and wealth creation and create islands of El Dorado or have an ecosystem where aspiring to be wealthy by dint of hard work or creating value through entrepreneurship is the order of the day. Having said this, there will always be the “super-rich” who inherit significant assets and, thus, have a ready-made platform to build on by taking higher risks.
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