Surat tops India in active investors
Gujarat continues to strengthen its reputation as a powerhouse of trade and equity market participation, with cities like Surat and Ahmedabad leading the surge in retail investing activity across India.
According to the latest report by the National Stock Exchange (NSE), Surat has secured the top position nationwide in terms of growth in active equity investors as well as their turnover. Ahmedabad follows closely, ranking second in active investor count and third in overall retail trading turnover, behind Mumbai Suburban and Bengaluru.
The report highlights a remarkable expansion in Gujarat’s retail investor base over the past decade. The number of active equity investors in the state has increased nearly eightfold-from 6.1 lakh at the end of FY2016 to 46.1 lakh by FY2026.
During the same period, equity turnover surged almost six times, rising from Rs 3.5 lakh crore to Rs 18.5 lakh crore, reflecting a sharp rise in retail trading participation.
Ahmedabad has emerged as a major retail trading centre, with turnover growing from Rs 1.3 lakh crore in FY2016 to Rs 6.1 lakh crore in FY2026, making it the third-largest in the country. Meanwhile, Surat has recorded the fastest growth in stock trading activity, with turnover crossing Rs 3.3 lakh crore in FY2026. The city also witnessed an 11-fold jump in active investors, reaching 7.6 lakh during the fiscal year.
The findings underscore Gujarat’s growing dominance in India’s retail equity market, driven by increasing investor awareness, digital access, and a strong culture of financial participation.
