Female participation in India’s stock markets has been rising steadily across most states, even as the proportion of young investors has seen a marginal decline, according to the latest National Stock ExchangeFemale (NSE) report.
As of June 2025, women accounted for 24.5% of the country’s total equity investors, with more than half of India’s states now above this national average—up from just 44% in FY23.
Maharashtra leads among the top five states by unique investor registrations, with female participation growing from 25.6% in FY23 to 28.4% in June 2025. Gujarat follows with a rise from 26.6% to 27.8% during the same period.
Uttar Pradesh, despite having the country’s second-largest investor base, remains below the national average at 18.7%, though it has improved from 16.9% in FY23.
Smaller regions are showing strong gender inclusion: Goa tops the charts, followed by Mizoram, while Chandigarh (32%), Delhi (30.5%), and Sikkim (30.3%) all post significantly higher female investor shares than the national average.
However, the share of investors under 30 has dropped—from 40% in March 2024 to 39.5% in March 2025, and further to 39% in June 2025—reflecting a slowdown in new entrants from this age group.
The report concludes that while gender diversity in the market is improving, the pace of young investor participation is moderating.