Groww's Lalit Keshre sheds light on India's changing retail investment landscape

Lalit Keshre, co-founder and CEO of Groww was speaking at the Chasing Growth 2025 conference, organised by Kotak Institutional Equities.

The surge in retail investing in India has been fuelled by increased awareness, digital infrastructure, and a younger investor base, according to Lalit Keshre, co-founder and CEO of trading platform Groww.

Speaking at the Chasing Growth 2025 conference, organised by Kotak Institutional Equities, Keshre highlighted how the investment landscape has evolved, with the median age of investors dropping from 38 to 32 years, and 40 percent of new investors now coming under 30. He also charted the surge in participation in capital markets from Tier 2 and Tier 3 cities, driven largely by the widespread internet access which has cut down on information gaps.

Despite the word of caution around Futures & Options (F&O) trading, Keshre pointed out that only 30-40 lakh out of 5 crore active investors participate in it, while the majority remain focused on cash markets and long-term investing. Mutual funds have become the preferred investment route, and with younger investors increasingly leaning towards passive investing, and he expects this trend to continue.

Keshre also emphasised on the crucial role played by trust plays in the investment space. To that effect, Keshre drew a contrast, stating that unlike some platforms, Groww did not prioritise its own mutual fund products, choosing instead to focus on credibility and customer experience. The platform’s growth strategy relies more on organic referrals and word of mouth than aggressive paid marketing, reinforcing customer confidence in its offerings, he believes. He also pointed towards technology as a key advantage that has allowed Groww to scale efficiently while keeping costs low for users.

Looking ahead, Keshre sees potential in building a retail investment advisory model, but sees changing investor behaviour around financial advice as a key challenge. While active investing continues to dominate in India, the rise of passive investment products suggests an evolving preference among newer investors. On that note, he believes asset allocation strategies will play a larger role in shaping long-term investing habits.

Meanwhile, addressing recent concerns about market downturns, Keshre acknowledged a slowdown in new investor additions in the past few months, a pattern commonly observed during market corrections. However, he dismissed fears of any drastic behavioural shift.

As retail investing matures in India, Keshre remains optimistic about sustained participation and innovation in wealth-building, with technology and cost-effective financial access playing a central role in this transformation.

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