Abstract
Trading members or the Stock Brokers constitute a prominent place in capital markets. With the evolution of capital market over decades, especially the National Stock Exchange has overseen enormous growth in derivatives trading. As per NSE India Website, there are over 1.89 Crore Active Clients as of September 2021, trading on NSE Exchange. There are 314 Registered stockbrokers including defaulters and the expelled stockbrokers as per their website. This research paper studies the Indian capital market and the evolution of the stock brokers in the Indian Economy. It evaluates the various dimensions that has led to the growth of these entities. Further, with the help of case study of Motilal Oswal, this research analyses the stages of Darwinism of trading members in Indian economy. The result reveal that the stock market has lot of potential to emerge brokers as well as the investors. This paper will be extremely beneficial for the readers to become aware about business model of brokers and various initiatives taken by them to educate investors.
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