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The number of demat accounts in India has crossed the 17 crore mark, surpassing the combined populations of Russia, Mexico, and Japan. According to the latest depository data, India now ranks ninth globally in terms of the total number of demat accounts, indicating that the total is more than the population of countries like Russia, Ethiopia, Mexico, and Japan, and is nearing the population of Bangladesh.
The number of people participating in India's stock market is steadily rising. For the first time in August, the total count of demat accounts in India surpassed 17 crore. In August alone, approximately 42.3 lakh new demat accounts were opened, bringing the total to 17.11 crore. This milestone was reached just two months after India hit the 16 crore mark for demat accounts.
The depository data also reveals that while the 42.3 lakh new demat accounts in August were slightly fewer than the 44.44 lakh added in July, the figure for August 2023 was up by 31 lakh compared to previous periods. India's total demat accounts now stand at the ninth position worldwide, indicating that the country has more demat accounts than the populations of several large nations.
Since January 2023, India has seen an impressive increase in new demat accounts, with over 6 crore accounts being opened. In 2024 alone, around 3.18 crore new demat accounts were created, already surpassing the 3.10 crore opened throughout 2023.
A demat account, or dematerialized account, is used for trading in securities in the stock market. It allows the electronic holding of securities like shares, mutual funds, bonds, and exchange-traded funds (ETFs). This type of account helps investors keep a record of their purchased and sold shares.
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