India’s economy grows on a faster pace, opening numerous opportunities for creation of assets but saving mentality of Indians are not growing at desired rate, said UTI Asset Management head Debasis Mohanty here.
“As per an estimate, more than 30 crore Indians would cross the age of 60 by 2030. If they do not save adequately now, they will be forced to deprive of many things in their live,” he contended.
He said retirement will be biggest driver of saving in India.
He told this in 2nd Retail Saving Opportunity Conclave, 2017 organised by the Indian Chamber of Commerce (ICC) here on Monday.
SEBI CGM Dr Sarat Kumar Mallick said, “SIP is a popular option for retail investment among general people. When a person prepares for saving, he must take short-term and long-term financial goals into consideration. He must understand the risk, liquidity and security option the savings.”
The ICC’s Atanu Sen gave the welcome address and Resident Director Sidharth Dhal proposed a vote of thanks.