Investment platform Groww has begun rolling out US stock investing on its app, giving Indian investors access to a wider range of international equities amid growing interest in artificial intelligence, semiconductor and technology companies.
The feature is currently being introduced in phases and is expected to become available to all Groww users over the next month, according to a Moneycontrol report.
Groww received approval from the International Financial Services Centres Authority (IFSCA) to offer global investing services through GIFT City. For the new offering, the Bengaluru-based company has partnered with US brokerage infrastructure provider Alpaca Securities.
The new service will allow users to buy and sell US-listed companies directly through the Groww app. It will also support fractional investing, allowing investors to purchase a portion of a share rather than an entire share.
Through the platform, investors will have access to more than 10,000 US stocks and exchange-traded funds (ETFs), including major companies such as Apple, Google, Nvidia, Tesla, Amazon and Meta.
Groww expands into global investing
The launch marks another step in Groww's expansion beyond its traditional investment offerings. The platform, which initially built its business around mutual fund investing, has been adding products such as commodities, mutual funds and margin trading facilities.
Groww has more than 2 crore active users and manages assets of around Rs 4 lakh crore, according to its quarterly financial statement. The company has also been expanding its wealth-management business as it looks to diversify its revenue base.
The company joins other Indian brokerages seeking to provide customers with access to international markets. Zerodha, Angel One and Upstox have also secured approvals through GIFT City to offer international investing services, while Upstox has already launched its platform.
AI boom drives interest in US stocks
The expansion comes at a time when Indian investors are increasingly looking towards global markets for exposure to sectors such as artificial intelligence, semiconductors, electric vehicles and space technology.
US technology stocks have attracted considerable attention during the AI-driven market rally, while the performance of companies in the semiconductor and technology sectors has further increased interest in overseas investments.
The weakening rupee and expectations of major US listings have also contributed to investor interest in international equities, according to market reports.
Groww's US stock offering is therefore positioned to give its large Indian customer base a more direct route to international equities through its existing investment platform.
Groww's own help page currently indicates that its US Stocks feature is in beta testing and is available only to a limited set of customers as access is expanded.
