National : The National Stock Exchange of India (NSE) reached another milestone in July 2025, with total unique trading accounts surpassing 23 crore (230 million)—in just about three months after crossing the 22-crore mark (220 million) in April 2025. Meanwhile, the number of unique registered investors stands at 11.8 crore (As of July 28th, 2025).

An investor may hold accounts with multiple brokers and therefore can have multiple client codes. In terms of regional distribution, Maharashtra continues to lead with nearly 4 crore accounts (17% share), followed by Uttar Pradesh (2.5 crore, 11% share), Gujarat (over 2 crore, with 9% share), and West Bengal and Rajasthan (each with over 1.3 crore, 6% share). Collectively, these five states account for nearly half of all investor accounts, while the top ten states contribute close to three-fourths of the total.

A growing share of market participants are young and first-time investors. To support their investment journey, SEBI and NSE have launched large-scale awareness initiatives on risk management, fraud prevention, or long-term investment principles. NSE has substantially expanded its efforts in this area over the past five years. The number of Investor Awareness Programs (IAPs) conducted by NSE has grown fourfold—from 3,504 in FY20 to 14,679 in FY25—reaching over 8 lakh participants across all states and union territories. NSE’s Investor Protection Fund (IPF) has increased by over 22% year-on-year to Rs 2,573 crore as of June 30th, 2025.

This focus on investor education has become even more critical in the context of significant wealth creation in Indian equity markets. Over the past five years, the Nifty 50 and Nifty 500 have delivered strong annualised returns of over 17% and 20%, respectively. India’s surge in retail investor growth is propelled by digitization, fintech access, growing middle class and supportive policy measures under the leadership of Prime Minister Shri Narendra Modi and Hon’ble Finance Minister Smt. Nirmala Sitharaman.

Shri Sriram Krishnan, Chief Business Development Officer, NSE said: “The Exchange has crossed another major threshold, adding a crore investor accounts in just about three months after crossing the 22-crore mark (220 million) in April 2025. This momentum reflects the deepening trust in India’s capital markets and the resilience of investor sentiment amid global economic uncertainty. The expansion has been powered by rapid digitalization and the widespread uptake of mobile-based trading solutions, which have significantly lowered entry barriers for investors, particularly across smaller cities and semi-urban centres. It also highlights the effectiveness of targeted policy and institutional efforts—ranging from streamlined onboarding to financial literacy drives—in fostering broader market inclusion. With more people investing in equities, ETFs, REITs, InvITs, and debt instruments, this milestone also enables a more diversified and accessible investment landscape through technology.”