Capital MarketsJul 2026GWR-2026-IN-001
India's Financial Operating System
India built the world's most complete digital public infrastructure and priced the rails at zero, so the economic rent migrated to a handful of regulated, listed toll-booths (CDSL, CAMS, BSE, MCX) at 41–84% EBITDA. This report sizes the market, maps where the rent accrues, weighs the citizen, and lays out the trade.
757M/d
UPI transactions per day (Jun 2026)
41–84%
EBITDA at the listed infra toll-booths
$2.1T
Fintech TAM by 2030
High confidenceRead →