The Securities and Exchange Board of India (Sebi) on Tuesday released its Investor Survey 2025, which revealed that while awareness of securities market products is steadily rising, actual participation remains very low.
The nationwide survey, conducted by research firm Kantar in partnership with Sebi, AMFI and major market infrastructure institutions, covered more than 90,000 households across 400 cities and 1,000 villages. It found that 63 percent of households, about 213 million, are aware of at least one securities product, but only 9.5 percent (32.1 million households) actually participate. Urban participation (15 percent) far outpaces rural (6 percent), with Delhi (20.7 percent) and Gujarat (15.4 percent) leading the charts.
The report highlighted that nearly 80 percent of Indian households prefer capital preservation over high returns, with Gen-Z investors also showing risk-averse behaviour. As per the survey 79 percent of Gen-Z households also display risk-averse behaviour.
Key deterrents include complex processes, limited knowledge, lack of trust and fear of losses. However, 22 percent of non-investors aware of securities products expressed intent to invest within a year, signalling significant untapped potential.
The survey also found demand for simpler digital platforms, lower entry barriers, and financial education in regional languages. While awareness of Sebi’s grievance redressal system remains limited, satisfaction levels among users stood at 90 percent.
Sebi said the findings will guide strategies to build trust, expand financial literacy in regional languages, and promote inclusive, responsible investing across India.
On investor education, the survey highlighted a sharp generational divide. Social media, mobile apps and digital/TV advertisements were identified as the most effective channels. While Gen-Z investors prefer short-form videos and reels, older participants leaned towards articles, podcasts and workshops. Across age groups, there was a strong demand for financial education in regional languages, underscoring the need for more inclusive outreach.
Sebi said that the survey was undertaken against the backdrop of rising investor participation and the expanding role of India’s securities market in mobilising and allocating funds. Its objectives were to assess current penetration and awareness levels, identify barriers and motivators for investors and non-investors and evaluate the effectiveness of investor education and grievance redressal mechanisms. The larger purpose is to shape strategies that promote responsible investing and make India’s securities markets more inclusive.
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