'₹1,000 cr spent on astro apps, but just 5 cr do...': Financial advisor says Indians chase predictions, not planning

Online gaming and digital astrology are commanding the attention of India’s smartphone-savvy generation. From fantasy leagues and esports to horoscope apps and virtual consultations, these platforms are reeling in millions. As real-time entertainment and prediction services skyrocket, financial planners are sounding the alarm on a striking contrast — despite the tech boom, long-term financial planning is lagging.

Gurmeet Chadha, Managing Partner & CIO at Compcircle, drew attention to this imbalance in a recent post on X (formerly Twitter). “Dream 11, my11 circle & other gaming apps did 30000 cr revenue. Astrotalk & astrology apps 1000 cr+ revenue. 56 cr Indians r gamers largely in 18-30 age group. Hardly 5 cr Indians do SIPs. Imagine the potential...”

Chadha lamented the mismatch in priorities, saying, “We want to predict future on a daily/weekly basis but do not want to BUILD our future over long term.”

The data backs his concern. The latest data from the Association of Mutual Funds in India (AMFI) revealed a significant shift in Systematic Investment Plans (SIPs), with contributions reaching a record Rs 26,632 crore in April 2025. This marks a 3% increase from March's Rs 25,926 crore. 

Despite the surge in contributions, the SIP stoppage ratio soared to 75.63% for the fiscal year 2025, indicating that 514.17 lakh SIPs were discontinued while 679.85 lakh new ones were registered. Notably, the total number of mutual fund folios climbed to 23,62,95,024 in April from 23,45,08,071 in March, showcasing a growing interest in mutual fund investments. 

Since January, more SIP accounts have been closed than opened — a reversal not seen in over two years—signaling growing caution among retail investors as market dynamics shift.

Chadha, who has long championed disciplined investing, earlier proposed a different kind of SIP. This one, he said, should have “nothing to do with stocks, mutual funds or returns” — instead, a voluntary monthly contribution to the National Defence Fund. His call, issued during heightened India-Pakistan tensions, was a reminder that financial goals are moot without national security.