The Rising Influence of Rising Affluence

[DewDiligence]

Market cap of India’s stock market grew 50%(!) in 2017:

https://www.wsj.com/articles/stock-fever-grips-india-as-millions-of-new-investors-pile-in-1525010400

A yearslong campaign by the Indian government is encouraging hundreds of millions of citizens to open bank accounts and invest some of their nest eggs in the stock market, part of a financial-reform and tax-collection effort designed to push cash out of hiding and into the Indian economy.

The campaign has brought a flood of domestic cash into the Indian stock market, helping boost the country’s market cap by 50% last year to $2.3 trillion, according to data from the World Federation of Exchanges.