India has sustained its position as the fastest-growing major economy globally, with a GDP growth rate of 7.4%, as per the recent Market Pulse report by the National Stock Exchange of India. The report emphasizes India’s robust macroeconomic stability, increasing investor engagement, and a record-breaking capital market fundraising activity in 2025.
The First Advance Estimates reveal that India’s economic expansion has outpaced that of its global counterparts, supported by steady domestic demand and government expenditure. Inflation remained below the Reserve Bank of India’s lower tolerance level for most of the year, enabling the central bank to reduce the repo rate by a total of 125 basis points in 2025.
India’s external position remained strong, buoyed by consistent services exports, substantial remittance inflows, and foreign exchange reserves nearing the $700 billion mark. The Indian equities market continued its winning streak for the 10th consecutive year, according to the report.
Capital markets experienced unprecedented fundraising activities during the year, with the total capital raised on the National Stock Exchange reaching a record high of Rs 19.6 lakh crore in 2025, marking a 10% increase from the previous year. This amount surpassed the net bank credit extended to the industry and services sectors combined.
Debt markets dominated the fundraising landscape, with Rs 15.1 lakh crore raised, while equity fundraising totaled Rs 4.2 lakh crore. India also emerged as a global leader in initial public offerings, with 220 IPOs listed on the NSE in 2025, raising Rs 1.78 lakh crore.
Globally, 367 IPOs occurred, with India contributing 28.4% of the total listings worldwide. Investor engagement in the markets deepened, with the unique investor base growing to 12.5 crore and total client accounts surpassing 24 crore.
While new investor additions decreased to 1.6 crore in 2025 from 2.3 crore in 2024, the report suggests that this decline reflects a normalization trend rather than an exodus from the markets. Nearly 70% of all investor accounts have been added in the past five years.
