State Street Takes Stake in Groww AMC to Expand India’s Digital Investing Market
State Street Investment Management has announced a strategic minority investment in Groww Asset Management Limited (Groww AMC), marking a significant move to deepen its presence in India’s rapidly expanding domestic asset management market.
The investment, which is subject to regulatory approval, brings together one of the world’s largest asset managers and one of India’s quickest-growing digital investment platforms, as global firms increasingly look to tap into India’s rising retail participation and long-term wealth creation story.
State Street said the partnership aligns with its broader strategy to democratise investing, while also creating a pathway to develop and distribute Indian-focused investment strategies to clients worldwide.
Strengthening State Street’s Footprint in a High-Growth Market
India has become a focal point for global asset managers, driven by favourable demographics, a growing middle class and a shift toward modern, digital-first investment products. said the partnership with Groww AMC allows it to participate directly in that growth.
Yie-Hsin Hung, chief executive officer of State Street Investment Management, highlighted the strategic rationale behind the deal. “India stands out as a market of immense opportunity, with a rising middle class, favorable demographics, and a rapid shift toward embracing modern investment products,” she said.
Hung added that Groww AMC’s reach makes it a compelling partner. “Groww AMC is at the forefront of this transformation, making exposures accessible to millions of individuals and capturing a significant share of the growing domestic wealth market. Our partnership with Groww AMC allows us to participate directly in the growth of India’s domestic asset management market, deliver a range of investment exposures to a broader population, and build a pipeline of Indian exposures for global distribution.”
State Street is positioning itself to benefit from India’s long-term asset management growth while creating a channel for Indian investment strategies to reach global investors.
Groww AMC Gains Global Partner and Product Expertise
Groww AMC is the asset management arm of GROWW, a digital investment platform that has grown rapidly by targeting India’s expanding base of retail investors with app-based access to mutual funds, equities and other products.
The company said State Street’s involvement will assist it accelerate the development of sophisticated investment offerings and strengthen its ambition to build a world-class asset management platform.
Harsh Jain, co-founder and COO of Groww, welcomed the investment. “State Street Investment Management is one of the world’s largest asset managers, and we are delighted to welcome them as an investor and strategic partner in Groww AMC,” he said.
Jain added that the partnership goes beyond capital. “This partnership will enable us to bring global best practices and sophisticated investment products to Indian investors, strengthening our long-term commitment to building a world-class asset management platform in India.”
For Groww, the tie-up also enhances its credibility as competition intensifies among digital platforms viewking to capture India’s next wave of first-time investors.
Groww AMC gains a global strategic partner, access to international expertise and the ability to accelerate product innovation for India’s quick-growing retail investor base.
Part of a Broader Strategy to Broaden Access to Investing
State Street Investment Management said the Groww AMC investment complements its recent equity investments and product collaborations globally, all aimed at and reaching new client segments.
Through partnerships like this, the firm is viewking to combine its scale, indexing and ETF expertise with local distribution and digital platforms, particularly in markets where retail participation is growing rapidly.
With more than US$5.5 trillion in and clients in over 60 countries, State Street views India as a critical part of its long-term growth strategy. The firm said alliances such as the Groww AMC partnership allow it to add new investment capabilities, create innovative products and reinforce its commitment to serving a broader range of investors.
As India’s asset management industry continues to evolve, the partnership reflects a wider trend of global managers aligning with local digital platforms to capture growth while assisting shape the next generation of products.
The investment underscores a wider shift toward global–local partnerships as asset managers viewk scale, digital reach and access to new investor populations.
