India's next investor wave will come from smaller cities, youth: EY

•The next wave of investors in India is expected to come from smaller cities, women, and younger earners, with 100 million new long-term investors by 2035.

•Cities beyond India's top 110 contributed 12% of mutual fund Assets Under Management in FY25, while districts outside the top 10 accounted for 70% of NSE-registered investors.

•Investors below 30 accounted for 38% of the investor base in June 2026, with women in B30 cities making up 25% of investors in FY24.

•India's investable assets reached nearly $5.2 trillion in FY25, with individual investors accounting for 18.7% of the equity market through direct equity and mutual fund ownership.