
SEBI Chairman Tuhin Kanta Pandey at the capital market conference, organised by ASSOCHAM in New Delhi
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Every third Gen-Z investor now participates in the securities market, SEBI Chairman Tuhin Kanta Pandey said here on Thursday. Echoing this sentiment, Managing Director and CEO of the National Stock Exchange (NSE), Ashish Kumar Chauhan noted that one in every five households has exposure to equity now.
Pandey and Chauhan were speaking at the capital market conference, organised by the industry chamber ASSOCHAM.
Calling the capital market as fuel to India’s development, Pandey said that the number of unique investors in the securities market has surpassed 13 crores — nearly tripling since March 2019. This signal “the growing trust of retail investors in capital markets. However, there is still a huge potential to expand further,” he said.
Providing additional insights into market growth, he noted that while around ₹93 lakh crore has been raised through equity and debt issuances over the last 10 years, market capitalisation of listed companies surged to ₹423 lakh crore by the end of April 2025, up from around ₹150 lakh crore at end of FY19.
Highlighting the importance of demographic India’s population, he said it presents a unique opportunity to deepen and broaden our capital markets. “As per industry estimates, around one-third of Gen-Z investors are already participating in the securities market — an encouraging sign of growing financial engagement at an early age,” Pandey said.
This trend reflects not only the rising trust in formal financial systems but also signals a significant opportunity for long-term wealth creation and inclusive participation in the nation’s economic progress, he added.
Taking note of growth in the mutual fund industry with the help of retail participation, he said that assets under management surged to ₹70 lakh crore as at end of April 2025 from ₹24 lakh crore at end of March 2019 to ₹70 lakh crore as at end of Apr-2025. MF SIP (Systematic Investment Plan) flows have seen steady growth over the years, with annual contributions rising from less than ₹1 lakh crore in FY19 to ₹2.9 lakh crore in FY25. As a result, “SIP AUM (Assets Under Management) has expanded nearly five-fold — from ₹2.7 lakh crore in Mar-2019 to ₹14 lakh crore as at end April 2025,” he said.
Prospects for further growth
Meanwhile, NSE MD Ashish K Chauhan said that the exchange’s unique investor base stands over 11.3 crore, with Investor accounts surpassing 22 crores, spanning 99.9 per cent of India’s pin codes barring just 28 of them most of which are non-resident areas. “This growth has been remarkably rapid—the last two crore additions came within just five to seven months each,” he said.
Beyond the numbers, the demographic profile of investors is evolving—the median investor age has declined to 32 years, and women now account for one-fourth of all investors. Today, “one in five Indian households has exposure to equities, up from just one in fourteen five years ago, Chauhan said.
Looking ahead, India’s vast and dynamic ecosystem presents immense opportunities. “With over 6 crore MSMEs, along with more than 125,000 startups and 130 unicorns, the potential for market listings is substantial,” he said.
Further, to sustain investor trust, it is essential to attract high-quality companies with transparent disclosures, robust financials, and strong corporate governance, ensuring the market’s depth, resilience, and long-term appeal.
Published on May 22, 2025
This article first appeared on The Hindu Business Line
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