I welc ome all the shareholders who joined us in our journey this fiscal. I am pleasedthat you believe in our growth story and are a part of the digital revolution in the_ntech space.
Encouraging growth in GDP in the latter half of this fiscal has led India to regain itsposition as the world's fastest growing economy'. Bold reforms in the form ofdemonetisation and GST (Goods and Services tax) implementation had a temporary effect onthe otherwise fundamentally sound growth story of the country. The Government's recentcommitment to inject sizeable capital into the banking sector and improving farm incomesis likely to play a pivotal role in steering GDP growth rate to over 7.5% in FY 2019.
The improving macro-economic factors create a conducive environment for a continuedgrowth of the digital sector. Initiatives like Digital India' and Make-in-India'schemes have played an important role in the growth acceleration of India's digitalsector. The Aadhaar and demonetisation policies in addition to their social merits havehelped create a friendly market for digital transactions. There has been a significantimprovement in quality of tech-led innovations. As India moves towards a cashless economydigital payments are estimated to grow 10 times: from USD50 billion last year to USD500billion by 2020. With these trends India should transform into a knowledge-driven economythrough a digitally empowered society much sooner than the world expects.
India is a dominant force in the financial technology sector globally with 29% annualreturns on investments. The country is witnessing a digital revolution led by increasedinternet adoption smartphone usage and technological changes. India's digital landscapecould undergo monumental changes as internet users are expected to reach 730 million by2020. Moreover India has a larger proportion of the younger population who seekconvenience and ease of access. This combined with dynamic consumer behaviour isincreasing the demand for digital financial services.
Capital markets have seen an upward trend with a record increase in financial savingsstrong investor sentiment and foreign investment inflows. The competitive environment inthe brokerage industry has changed dramatically with the rise of discount brokerage firms.Globally these specialised firms have enjoyed significant growth mainly in USA and China.They offer low cost services with a more enterprising use of technology. We at 5paisaCapital are leveraging on this technology momentum by offering a diversified range ofdigital financial products and services. Our services are targeted at retail investors andhigh volume traders who actively invest and trade in securities markets and seek DIY(Do-it-Yourself) services at a low cost. We charge a fiat fee of
_ 10 per transaction for equity broking services which is amongst the lowest in theindustry. Our consistent effort in building a robust trading platform an advanced mobileapp an artificial intelligence powered Robo -advisory platform and a Paperless Accountopening platform are some examples of our Tech superiority. Our marquee mobile applicationis widely popular and crossed a landmark 1 million downloads in the past year. Being a_ntech company in the digital era we understand the importance of not just meeting butexceeding customer requirements. We have a culture of innovation in the Company driven bya deep understanding of customer requirements and we keep customer needs and experiencecentral to everything we do. Our digitised offerings contribute to this objective byproviding greater inclusion than what would be possible via a physical service. We seehuge potential in non-metro cities and smaller towns across the country and aim topenetrate this nascent market with our unique service. Taking our commitment to customerwelfare a step further we at 5paisa have launched the 5P School'. Through theseonline investor education series we are trying to disseminate the basics of stock tradingand finances to first-time investors. The specially-made videos help explain the processesof analysing and selecting investment options suitable to individuals and provide atutorial on effective usage of our mobile app and web platform. Presented in both Hindiand English languages these help in reaching out to a wider audience. We have over 30videos on the 5P School page and they've been well received by our customers havinghelped many new investors make apt investment choices.
We adhere to regulations emphasize integrity transparency and ethical dealing. Wefollow a strong governance framework with accountable management proper internal controland increased shareholders engagement. We are committed to building a tech-drivenorganisation that treats its customers shareholders employees vendors and ourcommunities with honour and respect. I once again thank our valued clients andshareholders for their trust and confidence and joining us in our growth journey.
Dr. Archana Hingorani
5paisa Capital Limited