Investor participation in India has shown consistent growth even as stock markets aligned with the global downturn over ongoing tariff tensions.
By the end of February 2025, the total number of registered investors had crossed 11.2 crore, with 11.3 lakh new investors added in just that month, latest data by the National Stock Exchange revealed. It also reported a total of 21.9 crore client codes registered so far, since investors can hold multiple accounts with different trading members.
“The registered investor base stood at 11.2 crore in Feb’25, with 11.3 lakh new investors added during the month. The total number of client codes registered with the exchange stood at 21.9 crore (219 million), reflecting all client registrations to date, as investors can register with multiple trading members.”
The figures show a sharp rise in retail participation over the past year. The investor base had touched nine crore in February 2024 and hit the 10-crore mark by August 2024. Less than six months later, it crossed 11 crore by January 20 this year.
Region-wise, north India leads with 4.1 crore registered investors, followed by west India with 3.4 crore, south India with 2.3 crore, and east India with 1.3 crore.
Over the last 12 months, north and east India saw the fastest growth in investor numbers reporting 27.7 per cent and 27.3 per cent respectively. South India followed with a 23.7 per cent rise, while west India saw a 20.1 per cent increase.
Over a five-year period, regional shifts in investor share are becoming more visible. North India’s share has grown from 28.7 per cent in 2020 to 36.3 per cent in 2025, a rise of 7.5 percentage points.
East India’s share also soared from 9.9 per cent to 12 per cent. In contrast, west and south India’s shares declined, west India slipped from 35.4 per cent to 30.3 per cent, and south India fell from 24.6 per cent to 20.6 per cent.
Despite recent market volatility, the data painted a clear picture of rising public interest in equities, particularly in the northern and eastern parts of the country.
