Indian retail investors turn to US stocks as Groww, Zerodha open access

India's biggest online brokers are opening the door for ordinary investors to buy shares listed in the United States, and early users are heading for the largest American technology names, according to a report published on October 28, 2026. Groww, India's largest broker by active clients, has rolled out US stock trading through its unit in GIFT City, the international financial centre in Gujarat, offering more than 10,000 US-listed stocks and exchange-traded funds, including fractional shares. Early Groww users have favoured Nvidia, SpaceX, Apple, Alphabet, Amazon, Micron and Meta, the report said. Zerodha, the second-largest broker, has begun beta testing US stock access and plans to launch within weeks, and Angel One is reportedly planning a similar service.

Until recently, buying US shares directly was mostly an option for wealthier Indians who used global banks or specialised platforms. The arrival of Groww and Zerodha changes the scale. Between them they serve a large share of India's active traders, so even a small fraction of their users moving some savings abroad could mean significant flows into US markets.

The timing reflects the state of Indian markets. With the Nifty down sharply this year while US technology stocks have been driven by the artificial intelligence boom, many investors want exposure to companies that do not trade in India. For individual investors, owning a few US shares is also a way to spread risk across currencies and economies.

There are costs and rules to understand. Money sent abroad for investment counts against the Liberalised Remittance Scheme limit, remittances above certain thresholds attract tax collected at source, and gains on foreign shares are taxed differently from Indian shares. Currency moves matter too: a fall in the rupee raises the value of US holdings in rupee terms, while a rise reduces it. Investors also need to keep in mind that some of the most popular names, especially in AI, have had large price swings.

The shift is also a business change for the brokers. Groww has depended heavily on futures and options trading for revenue, and regulators have tightened rules on that segment after studies showed most individual traders lose money. New products such as US stocks help brokers diversify. For India's policymakers, larger outflows into foreign shares could add pressure on the rupee at a time when the central bank is managing the currency, which is why any changes to remittance rules will be closely watched.

Short-term: Retail investors with Groww accounts can already buy US stocks, and Zerodha users may get access within weeks. Demand is concentrated in a handful of large US technology companies.

Long-term: If the trend grows, Indian households could build meaningful foreign portfolios, while Indian markets compete harder for local savings. Any tightening of remittance rules would limit the flow.

Who is affected: Indian retail investors, brokers such as Groww, Zerodha and Angel One, the GIFT City financial centre, and policymakers watching capital outflows and the rupee.

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