India's exchange-traded fund (ETF) sector may soon have Rs. one lakh crore assets under management (AUM), the National Stock Exchange (NSE) said on Monday.
"We expect interests and inflows in India to grow manifold. Soon we expect ETF sector to have Rs.1 lakh cr(ore) AUM," the bourse' managing director and CEO, Chitra Ramkrishna said in a statement.
An ETF is almost like a mutual fund with a secondary market which has grown 12 times in last 12 years in India.
NSE has 97 percent market share in AUM of equity-based ETFs.
"There are 11 Equity ETFs on Nifty 50 in India and 6 ETFs on Nifty 50 are listed abroad in global markets," the statement said.
