Even mutual fund companies are helpless in front of Swiggy Zomato
In India, people take more interest in ordering food online than in their future investments or savings. People do not even save just Rs 100 every month, whereas they can spend more than this on subscription to OTT platforms like Netflix. Do not waste time in ordering food from platforms like Swiggy and Zomato or taking their premium subscription. This thing has given sleepless nights to many mutual fund companies of the country.
We are not saying this, but Radhika Gupta, MD and CEO of Edelweiss Mutual Funds herself has said this. Radhika Gupta recently also appeared as a judge on Shark Tank India. In a podcast with Shantanu Deshpande, founder of ‘Bombay Shaving Company’, he put forward his problem.
Why are mutual fund companies worried about Swiggy-Zomato?
Radhika Gupta says that she is competing with Swiggy and Zomato. If people are earning 50 to 60 thousand rupees per month, then they should do some saving. But people do not even invest Rs 100 per month in SIP, because they do not have that much money. People are ordering from Swiggy-Zomato, have subscribed to Netflix, which means they must have at least Rs 100.
OTT subscribers more than mutual funds investors
Radhika Gupta did not stop here. In this podcast, he said that the number of people investing in mutual funds in the country is around 4 crores, while the number of subscribers of OTT platforms is more than this. She hopes that the young generation will pay more attention to saving in the coming times. According to market trends, there are about 4.5 crore subscribers on all OTT platforms in India combined.