The concept isn't novel. In fact, I would argue that they're late to this game. I am using Scripbox for a while which works fine. As I see, they're not launching their own fund, they would be investing in existing ones, which kind of makes "Vangaurd for India" a misnomer.
I think the addressable market is huge, partly because the major things allowed in the tax saving section 80 (C) are life insurance premium, a government backed retirement fund (PPF), and long term mutual funds. The last one is the easiest to invest into. That means it's relatively easy to onboard working professionals if they are want to save tax in that section.
One issue is that the public isn't knowledgable enough about merits of equity markets. For some, it's a gamble and would rather go with fixed-rate funds.
I think the addressable market is huge, partly because the major things allowed in the tax saving section 80 (C) are life insurance premium, a government backed retirement fund (PPF), and long term mutual funds. The last one is the easiest to invest into. That means it's relatively easy to onboard working professionals if they are want to save tax in that section.
One issue is that the public isn't knowledgable enough about merits of equity markets. For some, it's a gamble and would rather go with fixed-rate funds.