India’s stock markets saw the addition of 2.1 crore new investors in the financial year 2025–26, marking a robust 23.2% growth in investor registrations, according to the latest report from the National Stock Exchange (NSE).
While the overall annual growth was strong, the report highlighted a slowdown in momentum in recent months. In March 2025, only 10.6 lakh new investors joined the markets — indicating a moderation compared to earlier months.
By the end of March 2025, India’s total investor base stood at 11.3 crore. The report noted a rapid rise in participation over the past year: the number of unique investors had crossed 9 crore in February 2024, reached 10 crore by August 2024, and climbed to 11 crore by January 2025.
The total number of client codes registered on the exchange stood at 22.1 crore as of March 2025. This figure includes all historical registrations, as investors can hold accounts with multiple trading members.
NSE attributed the surge in retail investor participation to stronger investor protection frameworks and growing confidence in the equity markets.
Region-wise, North India led the growth in investor base with 4.1 crore registered users, followed by West India with 3.4 crore, South India with 2.3 crore, and East India with 1.4 crore investors as of March 2025.
North and East India posted the highest annual growth in investor registrations at 26.4% and 26.1%, respectively. South India grew by 23.1%, while West India saw a slower rise of 19.2%.
Over a five-year period, the share of investors from North India in the overall base grew by 7 percentage points — from 29.3% in March 2020 to 36.3% in March 2025. East India’s share rose by 2 percentage points to reach 12% over the same period.
Conversely, West India’s share fell from 36% to 30.2%, while South India’s declined from 25% to 21%.
-ANI
