Economics and Public Policy for India in the Digital Century: An Empirical Study of Retail Investors’ Adoption of Digital Financial Platforms

Abstract

Public policy, financial markets, and individual economic behavior have all seen substantial changes as a result of India's economy's swift digital revolution. The financial system's accessibility, efficiency, and inclusivity have changed as a result of digital public infrastructure like Aadhaar, the Unified Payments Interface (UPI), and online investment platforms. The impact of digital financial platforms on the involvement, risk perception, and investment decision-making of Indian retail investors is investigated empirically in this study. The study evaluates the relationship between digital literacy, trust in digital systems, perceived policy support, and investment adoption using primary survey data gathered from 574 retail investors across major urban centers using descriptive statistics, exploratory factor analysis, and multiple regression analysis. The results show that adoption of digital investment platforms is strongly influenced by perceived efficacy of public policy measures and digital literacy. By offering evidence-based perspectives pertinent to India's digital century, the report adds to the body of knowledge on digital economy and public policy.