The National Stock Exchange (NSE) reported a steady rise in female participation in India’s stock market across states as of June 2025, even as the proportion of young investors slightly declined.
The report noted, “Female investor participation continues to rise steadily across states. The share of investors under 30 years of age declined from 40 per cent in March 2024 to 39.5 per cent as of March 2025 and further to 39 per cent in June 2025.”
Among the top five states by total unique investor registrations, Maharashtra leads with women comprising 28.4% of its investor base, up from 25.6% in FY23. Gujarat follows, with female participation increasing from 26.6% in FY23 to 27.8% in June 2025. Uttar Pradesh, the second-largest investor base, lags in gender representation, with women at 18.7%—below the national average of 24.5%—though improved from 16.9% in FY23.
Over half of India’s states now exceed the national average for female investor share, compared to 44% in FY23. Smaller regions are leading in gender inclusion, with Goa topping the list, followed by Mizoram. Chandigarh reports 32% female investors, Delhi 30.5%, and Sikkim 30.3%, all well above the national average.
While female participation grows, the NSE noted a decline in younger investors, with the under-30 age group dropping from 40% in March 2024 to 39% by June 2025, driven by fewer new investors in this demographic. The data highlights improving gender diversity, but a slowdown in youth participation in India’s stock market.
