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Indian Financial Services Industry Analysis

August, 2013

The asset management industry in India is among the fastest-growing in the world. Total asset under management (AUM) of the mutual fund industry have clocked a compound annual growth rate (CAGR) of 16.8 per cent over the period FY07-13 to reach US$ 150 billion. Non-Banking Financial Company (NBFC) managed credit grew at a compound annual growth rate (CAGR) of 35 per cent over FY07-12.

Retail credit registered a growth of 36 per cent growth in FY12. Rising incomes are driving the demand for financial services across income brackets. Product innovation is leading to healthy growth in insurance and NBFCs. India benefits from a large cross-utilisation of channels to expand reach of financial services. The financial inclusion drive from the Reserve Bank of India (RBI) has expanded the target market to semi-urban and rural areas.

India benefits from a large cross-utilisation of channels to expand reach of financial services. Product innovation is leading to healthy growth in insurance and NBFCs.

The Government of India has taken various steps for deepening the reforms in the capital markets, including simplification of initial public offering (IPO) process and allowing qualified foreign investors (QFIs) to access the Indian bond markets.

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