Indian stockbrokers clocked stellar growth while the economy went into recession

Indian stockbrokers clocked stellar growth while the economy went into recession
A record 1.42 crore new demat accounts were opened in the country in 2020.
Representational image.
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Danish Siddiqui/Reuters
If stock brokering businesses were the benchmark for India’s economic success, no one would believe that the country is going through its worse financial crisis in decades.
Over the last year, as India struggled with Covid-19 outbreaks, the country’s economy went into a recession, the unemployment rate spiked sharply and thousands of households were pushed into poverty. Many small businesses are currently hanging by a thread.
Away from this gloom and doom, stockbrokers in India have raked in crores of rupees during the pandemic.

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