Amazing Confidence In India’s Stock Market: We Now Have 2.7 Crore Women Investors

For decades, India’s capital market has been perceived as a male-dominated arena. But that’s changing—rapidly. Walk into any brokerage seminar today or scroll through social media finance communities, and you’ll spot a growing number of women asking questions, analyzing stocks, or discussing investment strategies. This isn't anecdotal—it’s a data-backed transformation.

A new report by the Ministry of Statistics and Programme Implementation (MoSPI) titled “Women and Men in India 2024: Selected Indicators and Data” shows that the number of women holding DEMAT accounts has quadrupled in less than four years.

From 6.67 million female account holders in March 2021, the number has surged to  2.7 Crore (27.71 million) by November 2024.

A Fourfold Jump in Retail Participation
India’s overall DEMAT account ownership has seen a massive spike—from 33.26 million in March 2021 to 143.02 million in November 2024, marking more than a fourfold increase in total accounts. Male investors continue to dominate the space with 115.31 million accounts, but the upward curve in women’s participation is clear and encouraging.

“Encouraging greater market participation, particularly among women, is essential for strengthening financial markets, driving business growth, and boosting GDP ,” the MoSPI report noted.

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Financial Inclusion: A Catalyst for Empowerment
Financial inclusion is not just about opening a bank account or owning a DEMAT—it’s about access, control, and confidence. The MoSPI report states:
“Financial inclusion empowers women by removing barriers to economic participation and providing them with essential financial tools and resources. It enables women to start and expand businesses, manage household finances, and invest in their future.”

Banking Trends: Rural Women Lead in Deposits
As of March 2024, women own 39.2% of all bank accounts in scheduled commercial banks and contribute to 39.7% of total deposits. Interestingly, women’s participation is highest in rural areas, where 42.2% of account holders are women.

“Accounts held by females in scheduled commercial banks are primarily in the southern and eastern parts of the country,” the report added.
 

Why This Matters for the Economy
Women’s growing inclusion in formal finance and capital markets has deep macroeconomic implications.

According to the report: “Financial inclusion fosters entrepreneurship and business expansion by providing access to credit, capital, secure savings, and efficient payment services... stimulating economic activity, enhancing productivity, and establishing a strong foundation for inclusive and sustainable growth.”

It also builds resilience. Access to insurance and savings buffers women against unexpected economic shocks, giving them the freedom to take entrepreneurial risks.