Women’s participation in the Indian stock market has been steadily increasing across states, even as the proportion of young investors has seen a slight decline, according to a report by the National Stock Exchange (NSE).
As of June 2025, women’s participation in equity markets has grown consistently in most states. Among the top five states by total unique investor registrations, Maharashtra leads, with women accounting for 28.4% of its investor base – up from 25.6% in FY23.
The report noted, “Female investor participation continues to rise steadily across states. The share of investors under 30 years of age declined from 40% in March 2024 to 39.5% in March 2025, and further to 39% in June 2025.”
Gujarat ranks second, with women participation increasing from 26.6% in FY23 to 27.8% in June 2025.
Uttar Pradesh, which has the second-largest investor base in the country, continues to lag in gender representation. Women account for only 18.7% of investors in the state – well below the national average of 24.5% – though this marks a notable rise from 16.9% in FY23.
Overall, more than half of India’s states now have a women’s investor share above the national average, compared to just 44% in FY23.
The report also highlighted that several smaller regions are emerging as frontrunners in gender inclusion. Goa tops the list, followed closely by Mizoram. Chandigarh records 32% women investors, Delhi 30.5%, and Sikkim 30.3% – all well above the national average.
While women participation is on the rise, NSE data also revealed a decline in the share of young investors. The proportion of investors under the age of 30 fell from 40% in March 2024 to 39% by June 2025, largely due to a drop in the share of new investors in this age group.
The report concluded that while gender diversity in the Indian stock market is improving, the entry of younger participants is slowing.
(ANI)
