SEBI Chairman Tuhin Kanta Pandey projects India’s mutual fund investor base will grow from 6.6 crore to 26 crore by 2036. To support this, the regulator plans to integrate insurance holdings into the Account Aggregator framework, giving investors a consolidated view of their assets. The initiative aims to enhance transparency and financial literacy for new participants entering the market.
The Securities and Exchange Board of India (SEBI) has outlined an ambitious growth plan for the domestic mutual fund industry, projecting a rise in the unique investor base to 26 crore by 2036. Currently, the industry serves approximately 6.6 crore unique investors. SEBI Chairman Tuhin Kanta Pandey shared this outlook during the Samwaad India Open Finance Summit 2026, noting that the regulator expects a compound annual growth rate of approximately 14% to 15% over the next decade.
Streamlining Asset Tracking
To facilitate this growth, the regulator is focusing on better financial connectivity. SEBI is working with the Insurance Regulatory and Development Authority of India to integrate insurance policies into the existing Account Aggregator framework. Currently, this digital network allows individuals to view their bank deposits, stock holdings, mutual fund investments, and National Pension System (NPS) accounts in one place. By adding insurance data, investors will soon have a more comprehensive view of their total net worth and financial health. This move is expected to improve transparency and assist individuals in making better-informed financial decisions by removing the need to manage multiple scattered statements.
Focus on Awareness and Infrastructure
While expanding the reach of the financial market is a key objective, SEBI is also emphasizing the need for investor discipline and infrastructure safety. The regulator has urged market intermediaries, such as brokers and depositories, to increase their investments in technology to protect data and systems. This is particularly relevant as digital platforms have made it easier for people in remote regions to enter the market.
To support these new entrants, SEBI has launched the Project Jagruk initiative, which focuses on financial literacy. Through this campaign, millions of awareness messages have been distributed in multiple languages to educate new investors about market risks and the importance of informed participation. For investors, these initiatives signal a shift toward a more structured and transparent market environment, where growth is balanced by technology-driven safety measures and better access to personal financial data. Moving forward, the key area to track will be the timeline for the actual integration of insurance data into the Account Aggregator framework, which would be the next major step in simplifying personal finance management for the common investor.