Marcin Frąckiewicz

January 22, 2026, 10:34 PM EST. The Securities and Exchange Board of India (SEBI) Investor Survey 2025 highlights a paradox: 63% of Indians are aware of the stock market, yet only 9.5% invest. Despite reforms such as digital Know Your Customer (KYC) processes and faster settlements making market entry easier, participation remains low due to complexity and confusion rather than lack of access. Many Indians feel ill-equipped to navigate investment decisions amid market volatility and information overload from digital platforms. The survey suggests that investor capability, including mental models and decision-making frameworks, is lacking, which causes many to withdraw after initial exposure rather than stay invested long-term. This contrasts sharply with higher participation rates in countries like the United States (55%) and Vietnam (16%). SEBI aims to address this gap by enhancing investor confidence and support.