Over the period of the last two years, India as a country has seen a huge increase in Demat account signups and trading volumes, the reason could be anything?
Ranging from the rate of unemployment increase rate, business collapses to increased awareness of investment and financial literacy among people.
According to statistics and data, India was long behind in the equity game when compared to other countries and most of the Indian population believed in the fixed interest rate schemes and the government backed funds to invest the savings.
This has been due changing for quite a long while and the reason being “the safe mentality”, it is definitely true and cannot be denied that with huge risk comes huge rewards and that is specially applied in the Stock Market.
Let us take a simple and recent example of the corona pandemic crash of the stock market that happened in 2020 the people who invested at that rock bottom prices have seen their investments get doubled, tripled and quadrupled. Those were the people who took the risk of investing while the market was crashing and you can see what happened after that. There is a famous quote by Mr Warren Buffett “ Be fearful when everyone is greedy and be greedy when everyone is fearful” and that is what exactly played out the previous year.
Among those investors were investors who were fearful while the markets were crashing and there were investors who were greedy when others were fearful and the scenario played out in their favour with a never seen before climatic reversal earning them a humongous fortune.
But, the scenario for the Indian investors is slowly changing and thanks to many young entrepreneurs who dreamt of changing it and leading it to the levels where wall street is.
According to stats, only 5-10 % population of Indian retail investments are exposed to equity and markets when compared to 70-80% of US retail investors. This has to change if we want to see ourselves competing in the world market. And fortunately, this has been changing from the last two years for which we can blame corona as people are moving from the 9 to 5 job culture towards earning from home jobs and the types of income that is free from the fear of Corona and other natural disasters.
From now on we will be talking about the founders and CEOs of young companies who are somewhat responsible for this positive change in the Indian mindset of safe investment and are leading India towards a level in which we stand strong along with the world market with never before witnessed volumes.
Today we have one of the founders of Upstox, Mr. Shrini Vishwanath who has been a face for the upcoming retail investment revolution with simplicity in his mind through the Upstox platform for investing and trading.
Let us dive deep and talk about the achievements and the steps that happened for the development of the Upstox platform and his early life.
Who is Shrini Vishwanath?
He is one of the co-founders of the very famous Upstox platform for stock trading and investments, founded in 2010 it has been a direct competitor for Zerodha in the field of stock investing and trading. It is a very trustable platform also backed by Tata. Upstox has seen exponential growth in Demat account signups from the last year of 2020 and has been in plans of increasing it even further hitting a 5000cr in revenue by the end of 2021 which is not only good for the company itself but, also the population of India as it will be a win win situation.
Upstox is the first platform to launch some unlimited trading plans at a flat price in 2012. According to Vishwanath right from the starting Upstox focused on making the trading and investing journey easier for the people by reducing the learning curve.
They have been constantly evolving along with the platforms with cutting edge technologies and latency free tech to ensure high frequency trading.
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It was not always in the plans of Vishwanath to start a stock broker firm and it was different for him in the starting.
For his formal education, he went to the University of Illinois Urbana-Champaign to study computer science and earned a graduate degree of Bachelors in sciences along with a minor in business administration and was also an active member of the Student information technology advisory committee.
Shrini started his career as a software engineer in Cerner corporation designing and coding easy to use software solutions allowing the clients to customise the products in easy ways which lasted for around three months Jun 2005 to Aug 2005 later he moved on to Morgan Stanley working as a technology analyst in which he developed web based applications and also worked on existing customer relationships.
In the year 2007, he Joined Citi as the Business Intelligence delivery manager moving on to Solutions architect and then finally settling with the role of the Program Manager, his role included developing metrics to measure and manage vendors performance.
On leaving Citi he along with his two cofounders Kavita Subramanian and Ravi Kumar founded Upstox and started his journey of entrepreneurship and enlightening people and introducing them to the Indian Equity market.
Conclusion
This world will need personalities like him from time to time to make the path clearer for others and revolutionalising scenarios. We just hope people to get along in this journey with him and other technology leaders in this journey of learning and simplifying the stock market.
