Indians are more dependent on others while taking decisions for investments through internet compared to their global peers, as per a survey by information and measurement firm Nielsen.
Over two in five, which is 41 percent, of online Indian consumers make their own decisions for investments with mutual funds, metals, stocks and bonds emerging as their preferred options, according to the Nielsen Global Survey of Investment Attitudes.
“Nielsen’s survey shows that when making personal finance or investment decisions, nearly half (49 per cent) of global online consumers rely only on themselves,” it said. The survey, however, said compared to ordinary customers, net savvy Indians are more independent while taking investment decisions.
“As opposed to the average customer, online consumers in India appear to be far less dependent on others in decision exhibiting a marked independence in being self sufficient and not entirely trusting of people around them,” Nielsen India Director Subhash Chandra said.
The report said 16 percent of Indian respondents indicated that they would take the advice of friends,
relatives and colleagues while making financial decisions.
Globally, 20 percent of respondents sought advice from a financial planner or adviser while 18 percent relied on friends, relatives and colleagues for advice, the survey said.
When it came to investment options for the Indians, 64 per cent of the respondents favoured mutual funds among the top four asset classes, Nielsen said. It is followed by precious metals (63 percent), stocks (56 percent) and bonds (40 percent) as the most favoured investment options by online Indian consumers, it added.
“The increasing popularity of mutual funds as an important investment tool is fuelled by the aware online consumer, who sees great benefit in systematic investment plans on offer now,” Chandra said.
Besides, Indian netizens continue to be enamoured by precious metals for traditional purposes as well as investments because of the perception that these are profitable over the years, he added. The global study, which surveyed over 28,000 internet respondents in 56 countries, showed that a total of 42 percent online Indian consumers made investments.