West India’s Gen Z Leads Equity Investment Trend, Shows Strong Financial Planning: Tata AIA Study

Gen Z professionals in Western India are emerging as the most financially proactive cohort in the country, according to a new study by Tata AIA Life Insurance in collaboration with NielsenIQ. The report, titled “New Age Habits, Traditional Values: Gen Z’s Approach to Financial Planning”, finds that young earners aged 21 to 29 in the region lead India in equity investment and are increasingly turning to insurance products for long-term financial security.

With 54% of respondents from West India already investing in equities, the region boasts the highest equity participation rate among Gen Z across the country. Furthermore, 17% of respondents currently hold term insurance policies, while 25% plan to purchase them in the near future, highlighting a growing awareness of the importance of financial protection.

The study reveals a marked shift in Gen Z’s financial behaviour, traditionally seen as risk-takers. Instead, Western India’s youth are aligning their investment decisions with long-term objectives. About 55% consider building retirement savings through life insurance a key goal, and 69% prioritize establishing emergency funds.

“The Gen Z generation in West India shows very encouraging signs of financial maturity, especially how they look at insurance,” said Girish Kalra, Chief Marketing Officer at Tata AIA Life Insurance. “They’re choosing term plans, savings products, and health coverage that protect and help them grow wealth. This presents a significant opportunity for insurers to offer tailored, digital-first solutions.”

The study also highlights what drives insurance decisions for Gen Z:

• 68% value tax-saving benefits,

• 59% seek affordable, comprehensive coverage,

• 44% prioritize ease and simplicity in claims.

In addition to equities, gold remains a favoured asset, with 43% of respondents reporting investments, pointing to a balanced strategy that includes both high-return and value-preserving instruments.

The survey, conducted across eight cities including Mumbai and Pune, reflects a gender-balanced and demographically diverse sample, and suggests a growing financial sophistication among India’s youngest earners.

As Gen Z in West India continues to blend ambition with prudence, insurers and financial institutions are likely to adapt their offerings to match this generation’s digitally driven, goal-oriented approach to wealth creation and security.

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