SIP inflows grow 10x as women, young investors fuel India's retail boom
Synopsis
India's SIP inflows have surged more than tenfold in a decade, and the story behind the numbers is even more striking: women now account for nearly one-fourth of new investors, and states like Uttar Pradesh and Bihar are driving the next wave of participation. Groww CEO Lalit Keshre calls it a structural shift — not a trend.
Key Takeaways
Monthly SIP inflows have grown more than tenfold from around ₹3,000 crore a decade ago.
Mutual fund AUM has risen from ₹12 lakh crore in 2016 to over ₹80 lakh crore today.
Women now account for nearly one-fourth of all new investors entering the market.
States including Uttar Pradesh , Bihar , and the northeastern region are driving Tier-2 and Tier-3 investing growth.
Groww CEO Lalit Keshre attributed the expansion to digital platforms and easier access to financial products.
Lalit Keshre, CEO and Co-founder of Groww, on Saturday said monthly Systematic Investment Plan (SIP) inflows have surged more than tenfold over the past decade, as retail investing in India rapidly expands beyond metro cities to smaller towns, younger demographics, and women. Keshre was speaking at the 'Groww IIF – India Investor Festival 2026' in Mumbai, held to mark the company's 10th anniversary.
A Decade of Dramatic Growth
Keshre highlighted that mutual fund assets under management (AUM) have climbed from nearly ₹12 lakh crore in 2016 to more than ₹80 lakh crore at present — a near 7x rise in under a decade. Monthly SIP contributions, meanwhile, have grown from approximately ₹3,000 crore a decade ago to multiples of that figure today.
Point of View
But the more consequential shift is geographic and demographic. For years, India's mutual fund penetration story was essentially a Mumbai-Bengaluru story; the entry of UP and Bihar into the top participating states signals a genuine broadening of the base. The rise of women to nearly one-fourth of new investors also deserves more scrutiny — it likely reflects both digital access and a quiet shift in intra-household financial power. The question mainstream coverage skips: whether this retail surge is building durable wealth or chasing momentum in an extended bull run.
NationPress
28 Jun 2026
Frequently Asked Questions
How much have SIP inflows grown in India over the past decade?
Monthly SIP inflows have increased more than tenfold from around ₹3,000 crore a decade ago, according to Groww CEO Lalit Keshre. This growth reflects a broad-based surge in retail participation across age groups, genders, and geographies.
What is the current mutual fund AUM in India?
India's mutual fund assets under management (AUM) have crossed ₹80 lakh crore, up from nearly ₹12 lakh crore in 2016. The near-sevenfold rise underscores the rapid deepening of retail investment culture over the past decade.
What share of new investors in India are women?
Women now account for nearly one-fourth of all new investors entering the market, according to Keshre. He described this as a sign of increasing maturity in India's financial ecosystem and a reflection of women's growing role in household financial decision-making.
Which states are driving retail investing growth beyond metro cities?
States including Uttar Pradesh, Bihar, and the northeastern region, along with several smaller cities, are now witnessing strong investment participation. This marks a significant shift from the earlier concentration in Tier-1 cities like Mumbai and Bengaluru.
What is driving the expansion of investing in Tier-2 and Tier-3 cities?
Groww CEO Lalit Keshre attributed the geographic spread to digital investment platforms and easier access to financial products, which have simplified retail investing for first-time participants in smaller towns.
