Indians are good at saving money compared to other countries on the planet. But, Indians still rely on traditional investment options like bank deposits, provident funds, etc. But, after the Covid outbreak, a surge in to open demat account in India has skyrockets.

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The Indians are serious about financial literacy and thanks to financial influencers on the social media platforms such as YouTube, Instagram and Facebook. Let’s understand how the Covid outbreak impact has increased the number of demat accounts in India with help of the following chart.

Do you know what percentage of Indians invest in the stock market? Currently, just about 8% of Indians have Demat accounts, when compared to the country's overall population.

Recently, India’s largest depository CDSL has announced that it’s opened more than 7.38 crores and the total number of Demat account holders in India has crossed the 10 crores including 3.14 crores Demat accounts opened by NSDL.

Demat Account Market Share by Depositories in India

Huge Opportunity for Stock Brokers

The Pradhan Mantri Jan Dhan Yojana resulted in a massive increase in bank accounts between year 2014 to 2017. As of now, 80% Indians have bank accounts but if we compare with Demat accounts, Indians are behind in terms of opening Demat accounts. There is a huge opportunity in India for stock brokers to open new demat accounts.

After the revolution made by Jio in the telecom sector, internet usage and subscribers have increased tremendously. Because of this, most of the stock brokers are acquiring new clients through digital mediums.

Financial literacy in India is increasing day by day and finance experts are expressing their views that the number of Demat accounts in India will cross the 25 crores milestone by year 2030.

If you are a newbie investor in the stock market and are ready to start your investment journey, we have prepared a beginner's guide on demat account.