India has reached a new milestone in financial participation, with 15% of its estimated 144 crore population now exposed to stock markets. According to the National Stock Exchange of India (NSE), the number of investor accounts—identified through Unique Client Codes (UCCs)—crossed 22 crore as of April 2025. This reflects a rapid growth from 20 crore UCCs recorded in October 2024.
As of March 31, 2025, the number of unique registered investors stands at 11.3 crore, up from 11 crore on January 20, 2025. The data indicates increasing retail interest in equity markets, supported by broader financial literacy and digital access.
Sriram Krishnan, Chief Business Development Officer, NSE stated, “India’s investor base continues to expand rapidly, with over 2 crore new accounts added in just six months—a clear reflection of strong investor confidence in India’s growth trajectory despite global economic headwinds. This surge has been driven by accelerated digital transformation and the increasing adoption of mobile trading, which have made capital markets more accessible to investors across tier 2, 3, and 4 cities. The growth also highlights the success of focused initiatives to deepen retail participation, including widespread financial literacy programmes and streamlined KYC processes. As participation broadens across a range of instruments—Equities, ETFs, REITs, InvITs, and Bonds—this milestone signals a maturing financial ecosystem where technology is playing a pivotal role in democratising investment opportunities.”
Mutual Fund growth
The Indian mutual fund sector has also seen strong expansion. As of March 2025, the total Assets Under Management (AUM) reached close to ₹65 trillion. Equity mutual funds form a significant part of this growth, with Systematic Investment Plans (SIPs) playing a major role in driving consistent inflows from retail investors.
SIPs offer a disciplined investment method, and their growing popularity suggests a shift in investor behavior towards long-term financial planning.
Nifty 50 performance since the COVID-19 pandemic
Since the COVID-19 pandemic, India’s stock market has undergone a period of sustained growth. The Nifty 50 index, which was at 7,511 during the early phase of the pandemic in 2020, rose to 26,277 by September 2024. This represents an increase of over 249% in a little more than four years. Contributing factors include a surge in retail investor activity, technological advancements in trading platforms, and rising inflows through mutual funds.
