Number of investors in Gujarat cross 1 crore mark, third state in India

The number of market investors in Gujarat has crossed the 1 crore mark, making it only the third state in India after Maharashtra and Uttar Pradesh in terms of number of registered investors, said National Stock Exchange (NSE)’s ‘Market Pulse’ for June 2025.

“In a significant milestone, Gujarat became the third state to cross the 1 crore investor registrations mark, joining Maharashtra and Uttar Pradesh, which rank first and second, respectively. These three states collectively account for 36% of the total registered investors in the country, highlighting their dominant contribution to the investor base,” said the NSE report.

However, Gujarat’s share of total investor base declined to 8.7% as of May 2025 compared to 12.1% in May 2020.

The top five states in terms of number of investors are Maharashtra, Uttar Pradesh, Gujarat, West Bengal, and Rahasthan.

North India remained on top with 4.2 crore registered investors when it comes to region-wise numbers. Ranking second was West India at 3.5 crore investors, followed by South India (2.4 crore), and East India (1.4 crore).

“North and East India have seen significant increments of 24% and 23% respectively, followed by increments of 22% in South India and 17% in West India during the period (in the last 12 months),” said the report.

Rise in number of Indian investors

A 9% month-on-month increase was seen in May 2025 with the registered investors after four consecutive months of decline. In May 2025, 11 lakh new investors were registered. 

The total unique registered investor base in India is now close to 11.5 crore mark with this, said the report.

“After surpassing the 9-crore milestone in February 2024, the base expanded to 10 crore by August 2024 and reached 11 crore by January 2025—each crore being added in just five to six months,” noted NSE.

From February to May 2025, an average of 10.8 lakh new investors were added per month. However, this was a downgrade as during the same time period last year, the average monthly registrations were touching 19.3 lakh.