I was travelling through some of tier-2,tier-3 cities in South India and even through some smaller towns. I was amazed to see the number of mutual fund advertisements, ads of stock brokerage houses. I was visiting these places almost after 5 years. Was good to see that equity investments is pulling in more and more people. Even in IPOs there is a broader participation from the public. if this trend continues for a while, we may not be an FII dependent market.
Another significant thing that was noticeable was that disposable income had reasonably increased in those places and spending pattern of people has also changed. realised that 'India growth story ' is real at least to some extent. Hope this growth continues and brings out many more millions out of poverty.