The paper says 24.1% Gujarati households invest directly in equity as against the all-India figure of 3.7% households investing in equity. In contrast the neighbouring state Maharastra where the business capital Mumbai comes falls in the bottom five states of the country with only 2.5% household investors participating directly in equity.
Not only direct equity but in bonds and mutual funds investments also the share of Gujarat is higher than most of other states of India. According to the paper, 26.2% Gujarati households invest in bonds, while 17.4% invest in mutual funds. With 34.9%, Gujarat heads the list of Indian states in total investors, followed by Chandigarh with 24.2%, Andhra Pradesh with 24%, Pondicherry with 16.2%, Haryana with 13.6% and Goa with 9.8%.