More women take charge of investing, but planning gap persists: Report

Women in India are increasingly taking charge of their investment decisions, signalling a structural shift in the country’s financial landscape. Yet, a significant gap between investor confidence and disciplined financial planning continues to persist, according to the latest Winvestor Pulse 2025–26 survey by DSP Mutual Fund in partnership with YouGov.

The nationwide study, which surveyed 5,050 urban investors across 13 cities, found that 56% of women now make investment decisions independently, up from 44% in 2022—the sharpest change recorded in the survey. While men still lead at 68%, the acceleration among women suggests deeper participation in financial decision-making rather than incremental progress.

The rise in financial autonomy among women also reflects growing engagement with financial knowledge. The share of women identifying as self-taught investors has increased to 16% from 13% in 2022, while nearly one in four women say they make independent investment decisions while consulting a professional advisor.

Confidence rises, but financial planning lags

However, the survey highlights a behavioural paradox at the heart of India’s retail investing boom. While 84% of investors say they are confident making investment decisions on their own, only 33% report having both a clear financial goal and a structured plan to achieve it.

Time horizons also remain relatively short. Nearly half of respondents define long-term investing as three years or less, and only 28% clearly associate long-term investing with five years or more. Return expectations vary widely—30% say beating inflation is sufficient, 22% aim to outperform markets, and 21% benchmark returns against friends or peers.

The findings suggest that while access to markets and financial awareness have improved, disciplined long-term planning is still evolving among urban investors.

“Over the years, we have seen Indian women move from participation to ownership in their financial journeys,” said Aditi Kothari Desai, chairperson of DSP Mutual Fund. “What stands out is not just the rise in independent decision-making, but informed independence, where women are seeking knowledge, engaging with markets and consulting advisors.”

Aspirations shift beyond traditional asset ownership

The survey also highlights shifting financial aspirations. While improving living standards and retirement savings remain top goals, lifestyle preferences are changing. About 41% of women—particularly those aged 25–44—say they prioritise travel over buying a home. Mentions of home ownership as a top aspiration have fallen to 28% from 36% in 2022.

Perceptions of money are evolving as well. The share of respondents associating money with “freedom” has risen to 35% from 27% in the previous survey. Nearly 48% now say they invest primarily to achieve financial independence and security, reflecting a stronger focus on long-term personal stability.

Women’s investment behaviour also reflects a blend of independence and consultation. They are more likely than men to discuss investment decisions with their spouse, suggesting a collaborative approach to household wealth management even as individual financial agency grows.

Trust in advisors high, adoption still limited

The survey also sheds light on attitudes towards professional financial advice. Among investors who use financial advisors, 94% report being satisfied with the experience. Yet most investors continue to avoid advisory services. Among non-users, 39% cite discomfort in sharing financial information, while 35% believe alternative information sources are sufficient and 32% say they find it difficult to take external advice.

Market behaviour among investors appears to be maturing. More than 62% of mutual fund investors say they would continue investing even if markets decline, signalling greater resilience among retail participants. Men are more likely to increase allocations during market downturns, while women show relatively higher participation in debt mutual funds and exchange-traded funds.

Digital engagement is also rising, particularly among women investors, who are more likely to share or comment on stock-related content on social media. At the same time, adoption of artificial intelligence in investing remains cautious, with data privacy emerging as the top concern for 46% of respondents.

For asset managers and wealth advisors, the findings underscore a rapidly evolving investor base—one that is more confident, digitally engaged and increasingly led by women, but still in need of stronger financial planning frameworks and longer-term investment discipline.