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<ul><li>Indians are eyeing greater returns from the US stock markets. </li><li>New-age broking companies like <keyword id="10636221" type="UNKNOWN" weightage="20" keywordseo="indmoney">INDmoney</keyword>, Stockal, 5paisa, Vested Finance and more are making way for Indians to invest in companies like Tesla, Facebook, Apple, Amazon etc.</li><li>One of India’s largest brokerage firms Zerodha is reportedly working with a US stock broking firm to bring the option to its users.</li></ul>While most Indians are celebrating Sensex hitting the historic level of 50,000, there are many others going for bigger gains in markets abroad. Indians are now buying stocks like Apple, Facebook, Tesla, Netflix through stock broking companies ⁠— INDmoney, Groww and Stockal to name a few⁠— which have partnered with US-based broking firms to enable investing. For instance, Asian Paints was <a href="https://www.cnbctv18.com/market/from-40k-in-2019-to-50k-now-here-are-the-top-gainers-that-helped-sensex-achieve-the-milestone-8068721.htm">the best performer</a> among all stocks in the last 10,000 points of the rally that took a little under eight months. The country’s largest paint maker gained nearly 98% in that time. Even compared to that, the rally in some technology stocks in the US has been spectacular. Here’s a look at the returns offered by <keyword id="48211" type="ORGANIZATION" weightage="20" keywordseo="US-stocks">US stocks</keyword>, according to wealth-tech platform Winvesta. Top 5 US Stocks on Winvesta <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 year return </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 year return </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 year return </td></tr><tr><td style="border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TSLA </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">530% </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">592.4% </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">812.2% </td></tr><tr><td style="border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AAPL </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">71.5% </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">156.4% </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">264.8% </td></tr><tr><td style="border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BRK.B </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5.2% </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10.3% </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">51.6% </td></tr><tr><td style="border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AMZN </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">68.9% </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">174.2% </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">362.3% </td></tr><tr><td style="border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:bottom;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">MSFT </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">42.9% </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">145.3% </td><td style="border-left:solid #000000 0.99609pt;border-right:solid #000000 0.99609pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">290.7% </td></tr></tbody></table>Source: Winvesta, Yahoo Finance. Returns are in USD. While the decade-long bull run in the US has been a big pull for Indian investors, there are other factors, too, which make such investments attractive. “The declining value of the rupee and rising dollar value have also pushed more Indians to put their money into US markets,” Vinay Bharathwaj, Co-Founder &amp; Co-CEO, Stockal Inc told Business Insider, adding that, “the US market gives stable and even generous returns at lower volatility over the long term.” <cmsannotation type="cmsannotation" annotationid="How to invest in US stocks" comment="subhead" text="How to invest in US stocks">How to invest in US stocks</cmsannotation> Indians can start investing in the US stock market by opening an overseas account with an Indian brokerage, open an account with foreign brokerage or invest through Mutual Funds with global equities. Currently, the Reserve Bank of India allows an Indian to invest only up to $250,000 (₹2 crore) overseas per year without having to apply for special permissions. But here’s what you need to remember while investing in an US stock, the profits will be subject to currency exchange rates and some brokerages may charge high commissions. <cmsannotation type="cmsannotation" annotationid="Startups that offer US stock investment to Indians" comment="subhead" text="Startups that offer US stock investment to Indians">Startups that offer US stock investment to Indians</cmsannotation> <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Brokerage </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">INDmoney </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zero commission, transaction charges depending on banks </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Groww (in beta phase) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stockal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ranges from zero commission to subscription and volume based pricing. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5paisa </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zero commission (wire transfer and foreign exchange conversion fees applicable) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Winvesta </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$0 per trade for 3 trades per month (10 free trades in the first month). $1 per trade after free trades </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vested Finance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zero (Subscription charges are separate) </td></tr></tbody></table>*Zerodha <a href="https://www.moneycontrol.com/news/business/markets/zerodha-to-offer-option-to-invest-in-us-stocks-says-no-minimum-investment-5251041.html">reportedly</a> has its US stock investment offering in the pipeline. One of the popular platforms that was also one of the first to offer US stocks to Indian investors is the Ashish Kashyap-led INDmoney. The startup in May 2020 partnered with DriveWealth, LLC, a member of FINRA (Financial Industry Regulatory Authority) and SIPC (Securities Investor Protection Corporation) and a licensed carrying and self-clearing broker based out of the United States. The startup also claims “zero account opening fee, zero brokerage i.e. no charges on buying and selling.” <div type="twitter" handle="deepakabbot" handlename="Deepak Abbot" image="http://pbs.twimg.com/profile_images/1197371543287816192/pYK77Tn7_normal.jpg" favoritecount="140" retweetcount="9" status="Another awesome offering from @INDmoneyApp - bought my first ever US stock using indcoins 🤩 https://t.co/GEC5yfIkOV" createdat="1610376983000" id="1348644935222771715"></div> <cmsannotation type="cmsannotation" annotationid="Indians are eyeing greater returns from US stocks" comment="subhead" text="Indians are eyeing greater returns from US stocks">Indians are eyeing greater returns from US stocks</cmsannotation> Bharathwaj believes that in today’s world it seems rather restrictive that an Indian investor should not have access to own shares of companies like Netflix, Tesla and Amazon. He said that the problem with wealth management firms was they came with large minimum account requirements, rigid investing plans, extra costs for research, high commissions, and entry/exit loads. “The availability of homegrown digital investment platforms that have made investing in the US market easy and accessible are also one of the major reasons why investors are considering expanding the scope of their investments. At Stockal, we have partly digitized the Liberalized Remittance Scheme (LRS) process, working with six banks in India, and are making it completely online, working along with a couple of our very large banking partners,” he said. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Duration </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stockal Daily Transaction Volume </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top traded stocks by Indians on Stockal </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April-June quarter </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1 mn/per day </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tesla (TSLA), Trivago (TRVG), Nio (NIO), Amazon (AMZN) and Palantir (PLTR) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last six months </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.5 mn/per day </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/recession-in-india-will-end-latest-by-march-says-a-top-economist/articleshow/80399198.cms">Recession in India will end latest by March, says a top economist</a> <a href="https://www.businessinsider.in/budget/news/do-not-panic-when-finance-minister-nirmala-sitharaman-reads-out-the-revised-estimates/articleshow/80400869.cms">Do not panic when Finance Minister Nirmala Sitharaman reads out the revised estimates</a>

Here’s how Indians are buying Tesla, Facebook, and Apple shares through brokerage startups

<ul><li><keyword id="74945" type="General" weightage="20" keywordseo="women-entrepreneurs" source="Orion">Women entrepreneurs</keyword> are not far behind in founding the most valuable businesses of this millennium. </li><li>Ghazal Alagh of Mamaearth, and Saumya Singh Rathore of Winzo, aged 35, each is the youngest woman in the list. </li><li>Ruchi Deepak, co-founder of Acko, and Amrita Sirohia, co-founder, Amrita Sirohia, co-founder, INDmoney, at 41, are the eldest women in the list </li></ul>When it comes to founding valuable new businesses, women <keyword id="53533" type="General" weightage="20" keywordseo="entrepreneurs" source="Orion">entrepreneurs</keyword> are giving men a run for their money. We take a look at top ten <keyword id="19669428" type="General" weightage="20" keywordseo="youngest-women-entrepreneurs" source="Orion">youngest women entrepreneurs</keyword> in India according to the first edition of ‘India's Top 200 Self-made Entrepreneurs of the Millennia 2023’ launched by I<a href="https://www.idfcfirstbank.com/personal-banking/wealth/First-Private#home">DFC FIRST Private</a> Banking and <a href="https://hurunindia.com/">Hurun India</a>. Ghazal Alagh, 35, Gurugram Ghazal Alagh is a self-made woman entrepreneur and the co-founder of Mamaearth, one of India's leading brands of natural and toxin-free skincare and baby care products. Alagh's journey started with a personal need – she was struggling to find safe and effective skincare products for her son. This inspired her to create her own brand, Mamaearth, which has since become a household name in India and recently went public. Saumya Singh Rathore, 35, New Delhi Saumya Singh Rathore, co-founder of WinZO, has contributed to building India's leading social gaming platform in local languages, boasting a user base exceeding 100 million. Since its inception in 2018, WinZO has secured funding surpassing $100 million, supported by key investors like Griffin Gaming Partners, Makers Fund, Courtside Ventures, and Steve Pagliuca. Rajoshi Ghosh, 36, Bengaluru Rajoshi Ghosh, a serial entrepreneur, serves as the COO and co-founder of Hasura, a software technology company based in San Francisco. Beyond her role at Hasura, she has initiated five other startups. She holds the title of a World Economic Forum Global Shaper and commenced her professional journey as a published bioinformatics researcher specialising in genomics at the Genome Institute of Singapore. Dr. Garima Sawhney, 37, Gurugram Dr. Garima Sawhney, a co-founder at Pristyn Care, is a leading figure in India's healthcare. Renowned for her expertise in gynaecology, she embarked on her career as a doctor, honing crucial life skills during her tenure at a government hospital. Her leadership, born from compassionate patient care, has steered Pristyn Care to a valuation of $1.4 billion. Kanika Gupta, 39, Gurugram Kanika Gupta Shori holds the position of co-founder and COO at Square Yards, an integrated real estate marketplace. With an educational background from Wharton Business School, she brings more than 11 years of experience in both banking and entrepreneurial pursuits. Beyond her professional roles, Kanika actively contributes to initiatives centred around empowering women and supporting children's welfare. Vineeta Singh, 40, Mumbai Vineeta Singh is an Indian entrepreneur and investor who is the co-founder and CEO of SUGAR Cosmetics, a popular Indian beauty brand. Singh is also a judge on the Indian reality television show Shark Tank India. Singh is known for her tough questioning and her willingness to invest in businesses that she believes have the potential to succeed. Ruchi Kalra, 40, Gurumgram Ruchi Kalra, an entrepreneur from Gurgaon, has co-founded two unicorn startups – OfBusiness and Oxyzo with her husband, Ashish Mohapatra. Ruchi's successful business approach centres on extracting profit from each transaction, a strategy that has proven effective. She and her husband are the first couple who has founded two unicorns. Mabel Chako, 40, Bengaluru Mabel Chako, co-founder and chief operating officer at Open, boasts a 13-year entrepreneurial journey in financial technology. Her expertise spans intricate financial landscapes, honed through roles at Citrus Payment Solutions and PayU. Her founding of CashNxt in 2007 and Zwitch in 2013 (later acquired by Citrus Payments) underscores her entrepreneurial acumen and commitment to innovative solutions. Ruchi Deepak, 41, Mumbai Ruchi Deepak, co-founder of Acko, hails from Jamshedpur and pursued her bachelor's degree at Lady Shri Ram College, followed by Law at Delhi University. Ruchi aimed for meaningful innovation in financial services. Witnessing the industry's focus on selling to distributors rather than customers directly, she envisioned a shift. Co-founding Acko with Varun Dua, they leveraged technology to revolutionise insurance experiences. Amrita Sirohia, 41, Gurugram Amrita Sirohia, co-founder of INDmoney, embarked on her journey in the financial sector driven by a passion for technology and finance. Amrita's professional trajectory includes roles at renowned companies like Google and Barclays, which led to her understanding of financial complexities and technological innovation. Co-founding INDmoney, her aim was to democratise wealth management through tech-enabled financial solutions, empowering individuals to navigate and optimise their financial portfolios efficiently.

She power: The top 10 youngest women entrepreneurs in India

<ul><li><keyword id="6358021" type="General" weightage="50" keywordseo="budget" source="Orion">Budget</keyword> announcement of 20% tax on foreign investments to make investments in the US markets less appealing. </li><li>Direct investments in the US markets remain viable only for a tiny minority of high and ultra high-networth individuals (HNI/UHNIs). </li><li>Retail investors should consider exposure to the US markets through Indian mutual funds that invest in US <keyword id="6354298" type="General" weightage="20" keywordseo="stocks" source="Orion">stocks</keyword> and funds. </li></ul>While one cannot buy a Tesla car in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> yet, one can buy shares of the electric vehicle (EV) giant. Similarly, one can also invest in shares of Apple, Meta (earlier Facebook), Alphabet (parent company of Google) and other US tech giants. To invest directly in US stocks from India, one needs to send money abroad under the liberalised remittance scheme (LRS). However, a budget proposal to impose a 20% tax collected at source (<keyword id="6357150" type="General" weightage="80" keywordseo="tcs" source="Orion">TCS</keyword>) on foreign remittances under LRS without any threshold limit has made investing directly in foreign stocks, especially in US stocks, less attractive for investors. Earlier, a 5% TCS was applicable on outward remittances above ₹7 lakh. <cmsannotation type="cmsannotation" annotationid="20% tax on foreign investments to hit retail investors hard" comment="subhead2" text="20% tax on foreign investments to hit retail investors hard">20% tax on foreign investments to hit retail investors hard</cmsannotation> Manish Chowdhury, head of research at Stoxbox, a subscription-based value broker, says “The budget proposal would prove to be a deterrent for small-time investors, as it would mean a large upfront cash outflow. Moreover, we believe that the change in TCS will adversely affect investing platforms, especially aimed at retail investors, who are more glued to direct investing in international stocks.” Currently IndMoney and Vested Finance are two such platforms that help Indian investors invest in US stocks and exchange-traded funds (ETFs). Pratik Oswal, head, ETFs and Index Funds, Motilal Oswal Financial AMC says that since this means that 20% of the sum invested abroad will be used for tax purposes and locked away at zero-percent interest till you file your taxes, it will mean an additional cost to the investor. It is to be noted that the tax paid can be claimed as credit. “While the TCS of 20% is a sentiment damper for Indians who would like to create a corpus outside of India and invest to meet future dollar commitments, it should not be confused as a sunk cost or additional cost. The TCS will be reflected as tax credit in your Form 26AS. So, the amount of TCS can be claimed as credit against tax payable while filing income tax returns,” says Sumita Pillai, chief executive officer of Torus Private Wealth. In case the TCS is higher than your tax payable, you will get a refund. <cmsannotation type="cmsannotation" annotationid="Direct investments in the US markets to get costlier" comment="subhead2" text="Direct investments in the US markets to get costlier"> Direct investments in the US markets to get costlier</cmsannotation> In another development, in January 2023, RBI asked SBM Bank to stop LRS transactions till further notice. Both IndMoney and Vested Finance have tie-ups with SBM Bank to make the process of investing faster and cheaper. “Vested Direct, our unique, low-cost digital fund transfer solution is supported by SBM India. With the help of Vested Direct, we were able to lower the overall cost of depositing funds to investors,” says Viram Shah, founder and CEO, Vested Finance. However, after the RBI directive, that is no longer possible. Shah clarifies that the introduction of this ruling means they will not be processing any new deposits using Vested Direct in the interim. This means that investing abroad through the LRS route is now more cumbersome and costly, the way it was a few years ago. This is definitely a dampener when it comes to Indians investing abroad. <cmsannotation type="cmsannotation" annotationid="Alternative option for investing in the US markets" comment="subhead2" text="Alternative option for investing in the US markets">Alternative option for investing in the US markets</cmsannotation> The above platforms provide investors an option to directly invest in US stocks. However, Indian investors can also get exposure to the US markets indirectly through international mutual funds that invest in the US stock markets. Says Chowdhury, “With the policy change, investing in equities globally through a direct route has definitely become more expensive. However, investors can continue to take exposure in global equities through mutual funds and ETFs because they are still exempt from LRS. We continue to advise small investors to invest in global equities through the indirect route as it saves them from the hassles of setting up the infrastructure for direct investing and also does not involve upfront costs.” Agrees Oswal, “Investors looking at global options should look at mutual funds because they are a lot cheaper right now.” However, a lot of these mutual funds in India cannot accept fresh <keyword id="6355120" type="General" weightage="20" keywordseo="Investment" source="Orion">investment</keyword>s because they have either already exhausted or are about to exhaust the limit of $7 billion to invest in overseas securities and funds. The entire industry is hoping for higher limits to be put in place. “When these mutual funds stop accepting fresh investments, direct investments outside of India via LRS will be the only route available to invest outside of India. That route will make sense for only a very tiny minority of HNIs ( high-networth individuals) and UHNIs (ultra high-networth individuals),” says Avinash Luthria, a financial planner &amp; SEBI registered investment advisor, referring to high and ultra-high-networth individuals. Investors who want to invest in the US market through mutual funds should reach out to the asset management company (AMC) and find out which funds are still accepting fresh investments. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/india-a-long-term-investment-destination-even-among-g-20-countries/articleshow/97875443.cms">India a long-term investment destination even among G-20 countries</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/passenger-vehicles-recorded-highest-ever-sales-this-january-says-siam/articleshow/97874958.cms">Passenger vehicles recorded highest-ever sales this January says SIAM</a>

20% tax on foreign remittances make foreign investments unviable for retail investors

<ul><li>Viram Shah, CEO of <keyword id="9516879" type="UNKNOWN" weightage="20" keywordseo="Vested-Finance">Vested Finance</keyword>, shares what has kept most Indians away from US investing and answers the whys and hows of investing in international markets.</li><li>In 2020, Vested Finance completed $100 million in trade.</li><li>The three-year old startup recently raised $3.6 million in a seed funding round.</li></ul>For the Mumbai-born Viram Shah, who was pursuing his master’s in business administration in the US, it was frustrating that even though Indians use most of the products from big US-based companies, they weren’t really investing in them. The former JP Morgan investment analyst then partnered with his friend Darwin Arifin to start Vested Finance -- an online investment platform which allows Indian investors to invest in the US <keyword id="6357440" type="DEFINITION" weightage="20" keywordseo="Stock-Market">stock market</keyword>. In 2020, Vested Finance crossed $100 million in trade. The three-year old startup recently raised $3.6 million in a seed funding round from Moving Capital, Ovo Fund and TenOneTen Ventures in the U.S., and Inflection Point Ventures and Venture Catalysts in India. In a conversation with Business Insider, Shah shares what has kept most Indians away from US investing and answers the whys and hows of investing in international markets. Is it even legal to invest? Shah shares that when they started Vested Finance in 2018, the most common question he had to answer was whether it is legal to invest in US stocks from India. This was then followed by questions like how does one get to do it and what the investment opportunities are. The answer is -- Indians can start investing in the US stock market by opening an overseas account with an Indian brokerage, open an account with foreign brokerage or invest through Mutual Funds with global equities. Vested has partnered with US stock brokerage firm DriveWealth and has partnered with 25 firms in India across brokers, bank brokers, fintech cos and distributors as well. “We started off with a Business to Consumer (B2C) format and started onboarding customers who wanted to invest internationally. Over time, a lot of existing financial institutions reached out to us saying we want to offer US investments to our clients but we don’t want to go through the entire hassle of partnering with US platforms etc.,” Shah told Business Insider. It currently counts Axis Securities, Kuvera, Angel Broking and 5Paisa among others as its clients. Lack of awareness is the biggest competition In India, there are multiple <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> that have partnered with US-based broking firms to enable investing – INDmoney, Groww and Stockal to name a few. Even the likes of Zerodha, India’s largest retail trading platform in terms of users, is contemplating bringing US stocks on its platform. Yet, Shah believes that the current biggest competition is not from fellow companies but from the fact that there is not much awareness about international investing. “The space overall is still evolving, a lot of things still need to be streamlined in the customer journey,” he said. But the potential is huge. India has seen a huge uptick in the number of people investing in Indian stock market. Nithin Kamath, founder of Zerodha, had recently taken to Twitter to share the number of new Demat accounts added in 2020 is a clear indication of the increased interest in investing. December 2020 was the <a href="https://www.businesstoday.in/markets/market-perspective/a-million-demat-accounts-opened-for-fifth-straight-month/story/424181.html">fifth month</a> in a row where India saw one million Demat accounts being added per month. <div type="twitter" handle="Nithin0dha" handlename="Nithin Kamath" image="http://pbs.twimg.com/profile_images/1330378133762166788/oS6H5t5e_normal.jpg" favoritecount="728" retweetcount="69" status="Here's the yearly Demat addition for the last 20yrs. Stockbroking is as high beta as it can get. When someone asks… https://t.co/ROnzodOxEI" createdat="1613734086000" id="1362725642647707650"></div> And Shah believes that in an ideal scenario, every Indian retail investor should diversify their portfolio to include 15-20% investment internationally. Taxes and high withdrawal fees are keeping customers away Currently, the Reserve Bank of India allows an Indian to invest only up to $250,000 (₹2 crore) overseas per year without having to apply for special permissions. But here is what you need to remember while investing in an US stock -- the profits will be subject to currency exchange rates and some brokerages may charge high commissions. Shah believes that withdrawal fee continues to be a big hiccup for <keyword id="10818314" type="UNKNOWN" weightage="20" keywordseo="US-stock-investing">US stock investing</keyword>, but there has been a lot of improvement in the sector. “The withdrawal fee used to be $35 per transaction and now it’s $11. We expect it to come down further as things get more streamlined,” he said. Vested Finance, like most other stock broking platforms, does not charge any commission. So one wonders, how do they make money? “We have an upfront account opening fee of ₹399, we have a premium plan as well, which provides value add services, reduces the withdrawal fee, among other things. Over time, we expect a lot of different opportunities to open up as we hopefully will get a broking license in the future,” he said. What are the ‘safe stocks’ to bet on? While for Indians, the likes of Tesla, Facebook and Apple have been favourite US stocks, according to Shah pandemic-driven stocks like Pfizer, Zoom and Netflix have also been a hit in 2020. But for beginners to the US stock market, Shah advises to invest in exchange-traded funds (ETFs). An exchange-traded fund, which is quite similar to a mutual fund, is an investment fund which trades with securities, bonds and stocks. “The best way to go about it is pick an index ETF, a technology ETF and balance it out with a debt fund and some gold investments. That’s a very simple strategy. There are also pre-determined allocations called Vests which we offer, which is popular among first time investors,” he said. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/dassault-aviation-has-an-india-it-services-unit-offering-defence-msmes-a-digital-trial-room-where-they-can-test-their-products-to-bag-more-contracts/articleshow/81183313.cms">INTERVIEW: Dassault Aviation has an India IT services unit offering defence MSMEs a digital ‘trial room’ where they can test their products to bag more contracts</a> <a href="https://www.businessinsider.in/business/startups/news/ipo-bound-zomato-valuation-jumps-to-5-4-billion-as-it-cashes-in-another-250-million/articleshow/81164109.cms">IPO-bound Zomato's valuation jumps to $5.4 billion as it cashes in another $250 million</a>

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20% tax on foreign remittances make foreign investments unviable for retail investors

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