Gujarat’s women are clearly not just window-shopping. They’re making serious money moves. Industry observers noted that female participation in the stock market has hit a record high, with women now comprising 28% of all investors in the state, according to NSE data for September 2025. This marks the highest share Gujarat has ever recorded.
The growth hasn’t happened overnight, according to a national daily.
The state’s female investor participation has climbed steadily from 26.6% in March 2023 to 28% by September 2025, signaling that women in Gujarati households are increasingly taking the reins of financial decision-making, the news report says.
Industry observers also pointed out that Gujarat, now home to 1.03 crore stock market investors, ranks among India’s most equity-savvy states. Its 28% female investor base not only exceeds the national average of 24% but also keeps pace with frontrunner Maharashtra, which stands at 28.6%.
Meanwhile, Uttar Pradesh, despite being one of only three states with over one crore investors, lags with just 18% women participants—proving that sheer numbers don’t always translate to gender balance.
The NSE report showed that, at the national level, the share of women in its individual investor base has remained around 24.6% as of September 2025.
Among the top five states by registered investors, Maharashtra leads with 28.6%, followed by Tamil Nadu at 28.2%. UP, despite its size, is in the bottom five with 18.8%, well below the national average. Observers noted that nearly 53% of India’s states now boast female investor shares above the national average.
Industry observers also highlighted that equity investing in Gujarat often runs in families for generations. They suggested that for many Gujaratis, gender doesn’t really matter when it comes to investing. They said that working women have been investing systematically for years, whether through SIPs or direct equity purchases.
They added that the post-pandemic market rally and IPO boom encouraged even more families to build the infrastructure for equity investing. Technology, particularly trading apps, was described as the real game-changer, making participation effortless for women.
From brokerage apps to boardrooms, Gujarat’s women are proving they’re not just part of the market. They are helping drive it.
Also Read: Gujarat Third Indian State To Cross One Crore Stock Market Investors, Says NSE https://www.vibesofindia.com/gujarat-third-indian-state-to-cross-one-crore-stock-market-investors-says-nse/
